Red Robin Trades Higher After Acquisition Interest
Vintage Capital Management has sent a proposal to acquire Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) outstanding common shares for $40.00 per share in cash.
The Red Robin board is reviewing and considering the proposal. Red Robin's board of directors and management team have said they;re committed to acting in the best interests of the company and all shareholders.
Evercore is serving as financial advisor to Red Robin and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as its legal counsel.
Red Robin Gourmet Burgers shares were trading up 14.02% at $34.89 in Friday’s pre-market session. The stock has a 52-week high of $51.28 and a 52-week low of $24.57.
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