The chain restaurant Denny's will be privatized for $620 million.

The chain restaurant Denny's announced on Monday that it will be acquired by a group led by TGI Fridays owner TriArtisan Capital Advisors for $620 million. According to the agreement, the group will offer $6.25 in cash for each share of Denny's to its shareholders. This acquisition price represents a premium of 52.1% over the stock's final closing price. Known for its affordable breakfast, Denny's stock rose nearly 48% after closing.