This Wall Street Stock Jumps 50% Minutes Into Trading As $620 Million Acquisition Entices Investors

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Shares of the US-based diner chain Denny's Corp. skyrocketed more than 50% at the Wall Street open on Tuesday, Nov. 4, following the announcement of a planned acquisition.

The surge in stock price occurred after Denny's confirmed it is set to be acquired by a group of investors who intend to take the breakfast diner chain private.

Under the terms of the transaction, which was unanimously approved by the Denny's board of directors, the company's shareholders are slated to receive $6.25 per share in cash. This offer price represents a significant 52% premium over the stock’s closing price from the preceding trading day, directly leading to the sharp increase in market activity. The transaction provides