DENNY'S (DENN) Company Report

Northland Properties has acquired the trademarks, intellectual property, and exclusive rights to the Denny's brand in Canada, building on its 35-year partnership as Master Franchisor.
As part of the transaction, Northland Properties also took an equity position in Denny's Inc., reinforcing its global alignment and commitment to the brand's long-term success.
Denny's Canada currently operates 85 restaurants nationally, with 57 owned by Northland Properties and 28 franchised.
This strategic move grants Northland Properties full brand control in Canada, enabling it to accelerate growth through menu innovation and restaurant development tailored to Canadian guests.

Jan 20, 2026, 2:42 PM

Press Release

Denny's Corporation completes acquisition and delists from Nasdaq

DENN

M&A

Delisting/Listing Issues

Board Change

Denny's Corporation announced the completion of its acquisition by TriArtisan Capital Advisors LLC, Treville Capital Group, and Yadav Enterprises, Inc. on January 16, 2026.
In connection with the closing, Denny's stockholders received $6.25 per share in cash for each share of common stock they owned.
Denny's common stock ceased trading on Nasdaq, effective as of the close of the trading session on January 16, 2026. The company intends to file a Form 15 to terminate the registration of its common stock and suspend reporting obligations.
The company's board of directors changed, with Rohit Manocha and Anil Yadav now comprising the board.

Jan 16, 2026, 7:12 PM

8-K

Denny's Corporation Acquisition Completed

DENN

M&A

Delisting/Listing Issues

Denny's Corporation announced the successful completion of its acquisition by TriArtisan Capital Advisors LLC, Treville Capital Group, and Yadav Enterprises on January 16, 2026.
In connection with the closing, Denny's stockholders received $6.25 per share in cash for each share of common stock they owned.
Denny's common stock will cease trading on Nasdaq effective as of the close of the trading session on January 16, 2026.
The acquisition is expected to provide Denny's with enhanced flexibility and resources to invest in its brands, support franchisees, and accelerate growth initiatives.

Jan 16, 2026, 7:05 PM

Press Release

Denny's Stockholders Approve Merger Agreement

DENN

M&A

Proxy Vote Outcomes

Executive Compensation

Denny's Corporation stockholders held a special meeting on January 13, 2026, to vote on a proposed merger.
Stockholders approved Proposal 1, the adoption of the merger agreement with Sparkle Topco Corp. and Sparkle Acquisition Corp., which will result in Denny's becoming a wholly owned indirect subsidiary of Sparkle Acquisition Corp..
The merger agreement was approved by 39,490,370 shares, exceeding the required majority of the 51,498,994 outstanding shares.
Stockholders also approved Proposal 2, a non-binding advisory vote on executive compensation related to the merger.
The company expects to complete the transaction in the near future, with final results to be filed on a Form 8-K within four business days.

Jan 13, 2026, 3:00 PM

Transcript

Denny's Stockholders Approve Merger Agreement

DENN

M&A

Executive Compensation

Proxy Vote Outcomes

At a special meeting held on January 13, 2026, Denny's Corporation stockholders approved the merger agreement with Sparkle Topco Corp. and Sparkle Acquisition Corp..
The merger agreement, under which Denny's will become a wholly owned indirect subsidiary of Sparkle Acquisition Corp., was approved by 39,490,370 shares.
Stockholders also approved, on a non-binding advisory basis, the compensation for named executive officers related to the merger, with 34,741,402 shares voting in favor.
The company expects to complete the transaction in the near future.

Jan 13, 2026, 3:00 PM

Transcript

Denny's Stockholders Approve Merger Agreement

DENN

M&A

Proxy Vote Outcomes

Executive Compensation

Denny's Corporation stockholders approved the Agreement and Plan of Merger with Sparkle Topco Corp and Sparkle Acquisition Corp during a special meeting held on January 13, 2026.
The merger will result in Denny's becoming a wholly owned indirect subsidiary of Sparkle Acquisition Corp.
Stockholders also provided non-binding advisory approval for executive compensation related to the merger.
The company expects to complete the transaction in the near future.

Jan 13, 2026, 3:00 PM

Transcript

Denny's Corporation Sale Under Investigation by Halper Sadeh LLC

DENN

M&A

Legal Proceedings

Takeover Bid

Halper Sadeh LLC is investigating the sale of Denny's Corporation (NASDAQ: DENN) to a group comprising TriArtisan Capital Advisors LLC, Treville Capital Group, and Yadav Enterprises, Inc..
The proposed transaction values Denny's shares at $6.25 per share in cash.
The law firm is encouraging Denny's shareholders to contact them regarding their legal rights and options, which may include seeking increased consideration or additional disclosures related to the sale.

Nov 19, 2025, 11:15 PM

Press Release

Denny's Corporation to be Acquired by Investment Group

DENN

M&A

Takeover Bid

Denny's Corporation has entered into a definitive agreement to be acquired by a group consisting of TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises in an all-cash transaction with an enterprise value of approximately $620 million.
Stockholders of Denny's will receive $6.25 per share in cash, which represents a 52.1% premium to the closing stock price on November 3, 2025, and a 36.8% premium to the 90-day volume-weighted average share price for the period ended November 3, 2025.
The acquisition was unanimously approved by Denny's Board of Directors and will result in Denny's becoming a privately held company upon completion.
The merger is subject to customary closing conditions, including Company Stockholder Approval and Regulatory Approvals.

Nov 4, 2025, 11:05 AM

8-K

Denny's Agrees to Take-Private Deal

DENN

M&A

Takeover Bid

Delisting/Listing Issues

Denny's Corporation has agreed to be acquired in an all-cash transaction valued at approximately $620 million by a private equity consortium.
Stockholders will receive $6.25 per share, which represents a 52.1% premium over its last closing price and a 36.8% premium over the 90-day average share price.
The acquisition will transition Denny's to private ownership and result in its delisting from Nasdaq.
The deal, involving TriArtisan Capital Advisors, Treville Capital, and Yadav Enterprises, is expected to close in the first quarter of 2026 following regulatory and shareholder approvals.

Nov 3, 2025, 11:55 PM

WSJ

Denny's Corporation Announces Q3 2025 Results and Agreement to be Acquired

DENN

M&A

Earnings

Delisting/Listing Issues

Denny's Corporation reported Q3 2025 total operating revenue of $113.2 million and net income of $0.6 million, or $0.01 per diluted share. Adjusted net income was $4.2 million, or $0.08 per diluted share, and Adjusted EBITDA was $19.3 million.
The company entered into a definitive agreement to be acquired by a group consisting of TriArtisan Capital Advisors LLC, Treville Capital Group, and Yadav Enterprises, Inc., with the merger expected to close in the first quarter of 2026.
Upon completion of the transaction, Denny's common stock will no longer be listed on the Nasdaq.
For Q3 2025, Denny's domestic system-wide same-restaurant sales decreased by 2.9%, while Keke's domestic system-wide same-restaurant sales increased by 1.1% compared to the prior year quarter.