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Red Robin Skyrockets After Investor Vintage Capital Makes Takeover Bid

Tony Owusu

were soaring Thursday after the company said in a Securities and Exchange Commission filing that institutional shareholder Vintage Capital wants to purchase the company outright. Vintage Capital, which holds 1.5 million shares, sent a letter to the company's board offering a bid of $40 a share to acquire 100% of the company in an all-cash transaction. "Our sincere hope, as explained to members of the Board on a number of occasions, was to work collaboratively to recruit an "A+" operator to accept the CEO role and lead Red Robin back to greatness.