Sidley is representing Denny’s Corporation (NASDAQ: DENN), the owner and operator of full-service restaurant franchise chains Denny’s and Keke’s Breakfast Café, in its take-private acquisition by a consortium of investors. The all-cash transaction, valued at approximately US$620 million, represents a 52.1% premium to Denny’s’ closing stock price and delivers significant near-term cash value to shareholders.
The investor group includes TriArtisan, a private equity firm with global restaurant and hospitality investments, such as P.F. Chang’s; Treville, an investment firm focused on alternative assets; and Yadav Enterprises, one of Denny’s largest franchisees and the owner-operator of approximately 550 restaurants nationwide.
The Sidley team is being led by Derek Zaba (M&A and Private Equity) and includes Kai H.E. Liekefett, Scott R. Williams, Eric S. Goodwin, and Amy Jang (M&A and Private Equity); and Zachary Brusewitz (Global Finance).
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