DENN News & Events

Denny's announced the successful completion of its previously announced acquisition by TriArtisan, Treville and Yadav Enterprises. The transaction closed following approval by Denny's stockholders as well as satisfaction of all required regulatory and customary closing conditions. In connection with closing, Denny's stockholders received $6.25 per share in cash for each share of Denny's common stock they own. Denny's common stock will cease trading on Nasdaq, effective as of the close of the trading session today, January 16.

Papa John's (PZZA) is nearing a potential buyout that would see the business taken private in an all-cash transaction by a consortium led by TriArtisan Capital Advisors, people familiar with the matter are said to have told ABC Money. TriArtisan, which recently reached an agreement to acquire Denny's (DENN) is understood to have put forward an offer of $65 per share for the pizza chain, the report said, citing sources. Shares of Papa John's jumped 9% and were halted following the report.

Benchmark downgraded Denny's to Hold from Buy after the company agreed to be acquired by a group of investors including Yadav Enterprises for $6.25 per share.