Denny's Soars Over 46% In Pre Market After Private Equity Group Agrees To Acquire Chain For $620 Million

Denny’s Corp. (NASDAQ:DENN) shares surged over 46% in pre-market on Tuesday after the company announced late Monday it had entered a definitive agreement to be acquired and taken private.

DENN stock is rising fast; check it out here.

DENN To Be Acquired For $620 Million By An Investor Group

The all-cash transaction, which has an enterprise value of approximately $620 million, is being led by a consortium of investors: TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises.

Under the terms of the deal, Denny’s stockholders will receive $6.25 per share in cash. This represents a substantial 52.1% premium over the stock’s closing price of $4.11 on Monday, Nov. 3.

The stock reflected the news immediately, showing shares rocketing from their $4.11 close to $6.03 in premarket trading, approaching the new buyout price.

The acquiring group brings significant restaurant industry experience. TriArtisan is a private equity firm ...

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Denny's Soars Over 46% In Pre Market After Private Equity Group Agrees To Acquire Chain For $620 Million

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