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Stock impact report

Why Denny's is returning to private ownership after 55 years as public company [Los Angeles Times (CA)]

Denny's Corporation (DENN) 
Last denny's corporation earnings: 2/11 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.dennys.com
Denny's board unanimously approved the deal, which values Denny's at $620 million, including debt. Denny's will be purchased by private equity investment company TriArtisan Capital Advisors, investment firm Treville Capital and Yadav Enterprises, which is one of Denny's largest franchisees. Under the agreement, Denny's shareholders will receive $6.25 per share in cash for each share of Denny's common stock they own, or a total of $322 million. That represents a 52% premium to Denny's closing stock price on Monday. Denny's shares jumped 47% in after-hours trading on Monday. Denny's was founded in 1953 in Lakewood, Calif., as Danny's Donuts. The name was changed to Denny's Coffee Shops in 1959 to avoid confusion with another chain. Denny's began trading on the New York Stock Exchange in 1969. Like many casual chains, Denny's saw its sales plummet during the COVID pandemic. Once the pandemic eased, it found itself dealing with changing customer dining patterns, including a heavi Show less Read more
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