Denny’s, the well-known restaurant chain famous for its affordable breakfast menu, announced it will be taken private in a $620 million transaction that includes debt.

The acquisition group is led by TriArtisan Capital Advisors, the owner of TGI Fridays, alongside investment firm Treville Capital and restaurant operator Yadav Enterprises.

The big picture: Under the deal, shareholders will receive a cash payment of $6.25 per share for each share owned. • The purchase price represents a 52.1% premium over Denny’s stock’s last closing price. • Following the announcement, Denny’s shares surged nearly 48% in after-hours trading.

What we’re watching: The transaction is anticipated to close in the first quarter of 2026, after which Denny’s common stock will be delisted from the Nasdaq stoc

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