Red Robin Confirms Receipt of Unsolicited Conditional Proposal from Vintage Capital
July 18 2019 - 5:52PM
Business Wire
Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) (“Red Robin” or
the “Company”) today confirmed it has received an unsolicited
conditional proposal from Vintage Capital Management, LLC
(“Vintage”) to acquire all of the outstanding common shares of Red
Robin for $40.00 per share in cash.
Red Robin’s Board of Directors and management team are committed
to acting in the best interests of the Company and all
shareholders. Consistent with its fiduciary duties and in
consultation with its independent legal and financial advisors, the
Red Robin Board will carefully review and consider the proposal to
determine the course of action it believes is in the best interests
of the Company’s shareholders.
Evercore is serving as financial advisor to Red Robin and Paul,
Weiss, Rifkind, Wharton & Garrison LLP is serving as its legal
counsel.
About Red Robin Red Robin Gourmet Burgers, Inc.
(www.redrobin.com), a casual dining restaurant chain founded in
1969 that operates through its wholly-owned subsidiary, Red Robin
International, Inc., and under the trade name Red Robin Gourmet
Burgers and Brews, is the Gourmet Burger Authority™, famous for
serving more than two dozen craveable, high-quality burgers with
Bottomless Steak Fries® in a fun environment welcoming to Guests of
all ages. Whether a family dining with kids, adults grabbing a
drink at the bar, or teens enjoying a meal, Red Robin offers an
unparalleled experience for its Guests. In addition to its many
burger offerings, Red Robin serves a wide variety of salads, soups,
appetizers, entrees, desserts, and signature beverages. Red Robin
offers a variety of options behind the bar, including its extensive
selection of local and regional beers, and innovative adult beer
shakes and cocktails, earning the restaurant a VIBE Vista Award for
Best Beer Program in a Multi-Unit Chain Restaurant. There are more
than 560 Red Robin restaurants across the United States and Canada,
including locations operating under franchise agreements. Red
Robin… YUMMM®! Connect with Red Robin on Facebook, Instagram, and
Twitter.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190718005826/en/
For investor relations questions: Raphael Gross, ICR
(203) 682-8253
For media questions: Jim Golden / Tim Lynch / Aura
Reinhard Joele Frank, Wilkinson Brimmer Katcher (212) 355-4449
Red Robin Gourmet Burgers (NASDAQ:RRGB)
Historical Stock Chart
From Aug 2024 to Sep 2024
Red Robin Gourmet Burgers (NASDAQ:RRGB)
Historical Stock Chart
From Sep 2023 to Sep 2024