Vintage Capital already owns 11.5% of Red Robin and indicated in its letter it would be interested in acquiring the rest of the outstanding stock for … Vintage Capital Takes Bite from Red Robin. Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) (“Red Robin” or the “Company”) today issued the following statement in response to the nomination by Vintage Capital Management, LLC. Feb. 27, 2020 (NATION'S RESTAURANT NEWS) -- Vintage Capital Management, which tried to buy Red Robin Gourmet Burgers Inc. last year, has reignited its battle with the distressed casual dining chain. Red Robin Skyrockets After Investor Vintage Capital Makes Takeover Bid Vintage Capital, which holds 1.5 million shares, is offering to take the company private in an all-cash transaction. Vintage Capital's Acquisition Proposal Vintage Capital … This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Pershing Square increased an investment in Howard Hughes by half a billion dollars. GREENWOOD VILLAGE, Colo. — Red Robin Gourmet Burgers, Inc. has received an unsolicited conditional proposal from Vintage Capital Management, LLC to acquire all outstanding common shares of Red Robin for $40 per share. Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) (“Red Robin” or the “Company”) today issued the following statement in response to a letter from Vintag Brian Kahn, manager of Vintage Capital, said in a letter that that his company wanted to find an “A-plus” operator as a new CEO for the chain. Web page addresses and e-mail addresses turn into links automatically. With Red Robin's stock falling post-earnings, the activist investor has nominated four executives to … The investor currently controls 12 percent of the company’s stock. In the statement, the company said that the board, led by the chair and independent directors, is driving the strategic plan and is … The plan temporarily forestalls investors from acquiring full control of a company via the stock market. In multiple conversations with Vintage, we have expressed our openness On Thursday, the stock was trading midday at about $26 a share, down from $37 a week ago. Putting an end to speculations, Red Robin Gourmet Burgers, Inc. RRGB has rejected Vintage Capital Management's offer to acquire 100% of the company’s shares for $40 per share. Découvrez comment nous utilisons vos informations dans notre Politique relative à la vie privée et notre Politique relative aux cookies. Vintage Capital is offering Red Robin a cash bid of $461.4 million to effectively take over the company. Red Robin Gourmet Burgers Inc (NASDAQ:RRGB) stock flew Thursday after it revealed that its third-largest shareholder, Vintage Capital Management LLC, is making a buyout bid for the burger chain.. Vintage Capital offers to acquire Red Robin Gourmet Burgers (NASDAQ: RRGB) for $40 per share - 13D. Red Robin Gourmet Burgers issued the following statement on September 11 in response to a letter from Vintage Capital Management, LLC (“Vintage”) dated September 10, 2019:The Red Robin Board and management team are focused on executing the company’s strategic plan to restore growth and improve profitability. Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) stock was among the biggest gainers on Thursday. Red Robin Gourmet Burgers said it has reached an agreement with Vintage Capital Management that averts a proxy battle with the private-equity firm, … Noting the brand’s undervalued stock, Red Robin also said it plans to initiate a share repurchase program soon. Vintage Capital Management, which already owns 11.6% of Red Robin’s shares, is the third-largest shareholder of … In a letter to Red Robin's board of directors, Vintage Capital said the company should start a review of strategic alternatives, including an auction process. Private-equity firm Vintage Capital Management said it is willing to pay $40 a share for Red Robin Gourmet Burgers and called on the restaurant chain to launch a review of strategic alternatives. Red Robin feels heat, again, from Vintage Capital Management. Red Robin reported a net loss of $7.7 million on top of revenue of $302.9 million, which was down 1.2%. Vous pouvez modifier vos choix à tout moment dans vos paramètres de vie privée. Bloomberg the Company & Its Products Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Terminal Demo Request Contacts. Article - Red Robin Issues Statement in Response to Vintage Capital Management - Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) today issued the following statement in response to the nomination by Vintage Capital Management, LLC of four director candidates to stand for election to the Red Robin Board of Directors at the CompanyÂ’s 2020 Annual Meeting of Stockholders. n early June called for an auction and said it would buy Red Robin at $40 a share. The year that was and the year to come: Nancy Kruse and Bret Thorn reflect on the state of the restaurant landscape, Papa John’s to offer year-end bonuses for 14,000 workers, Saladworks parent company acquires Garbanzo Mediterranean Fresh and Frutta Bowls to form Woworks, Congress passes $900 billion COVID-19 relief package, including $284 billion in PPP loans, All the restaurant chains that announced mass unit closures in 2020, 8 key things restaurant operators should know about the new COVID-19 relief bill, Punch Bowl Social files for Chapter 11 bankruptcy protection, citing pandemic-related difficulties, Boston landmark Legal Sea Foods sold to PPX Hospitality Brands, TooJay’s Deli announces search for new CEO; former UNO CEO Jim Ilaria serves as interim CEO, Red Robin launches direct delivery to capture consumer data, save on third-party fees, a multi-year turnaround plan recently revealed, retrofitting kitchens for the Donatos menu expansion, Allowed HTML tags:


. Earlier this month, Red Robin adopted a short-term shareholder rights plan known as a poison pill. Contacts. Updated June 28, 2019 10:39 pm ET / Original June 28, 2019 8:00 pm ET Order Reprints Print Article Text size. The activist investment firm sold 859,000 shares in two chunks, taking its holdings from 11.6% of the casual dining chain to just less than 5%. The stock jumped on the announcement, but Red Robin management … Lines and paragraphs break automatically. Red Robin said in a statement that it would consider what it called a "proposal." Vintage Capital Management LLC discloses 4.95% activist ownership in RRGB / Red Robin Gourmet Burgers, Inc. June 11, 2020 - Vintage Capital Management LLC has filed an SC 13D/A form with the Securities and Exchange Commission (SEC) disclosing ownership of 640,100 shares of Red Robin Gourmet Burgers, Inc. (US:RRGB). Red Robin Gourmet Burgers said it has reached an agreement with Vintage Capital Management that averts a proxy battle with the private-equity firm, which holds an 11.6% stake in the restaurant chain. Vintage Capital Management LLC, which is Red Robin Gourmet Burgers Inc.'s third-largest shareholder with a more than 11.5% stake, blasted the company's … Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) major shareholder Vintage Capital Management Llc sold 859,900 shares of the company’s stock in a transaction on Wednesday, June 10th. And shareholders appear to be on board, with Red Robin's stock prices shooting up 15% Friday morning. The shares were sold at an average price of $12.27, for a total value of $10,550,973.00. Red Robin Gourmet Burgers, Inc. operates through its wholly owned subsidiary, Red Robin International, Inc. and under the trade name Red Robin Gourmet Burgers and Brews. Shares of the company skyrocketed in the regular trading session following news that Vintage Capital, which controls about 1.5 million shares, or 11.5% of RRGB stock, has offered to buy the other 88% for $461.4 million, or $40 per in an all-cash transaction. July 18, 2019. Red Robin said it is carefully reviewing a proposal from Vintage Capital Management, LLC to acquire all of the burger chain’s outstanding stock for $40 per share in cash. Vintage, in a letter sent to Red Robin’s leadership Wednesday, said it is “apparent” that stockholders are skeptical of the strategies laid out by Murphy. Author: The pizza roll out would continue through 2022, with capital investments running at more than $145,000 per restaurant. Last week, Vintage Capital Management offered to acquire Red Robin for $40 per share, representing a 57% premium to the company's prior share price. Earlier this month, Vintage Capital Management sold off the majority of its once-sizable holdings in Red Robin Gourmet Burgers. They will re-examine options, including a sale, for the Greenwood Village, Colo.-based brand. Vintage Capital reports that it holds a stake of 8.5% in Red Robin Gourmet Burgers (RRGB). Red Robin’s board is in the process of reviewing and considering the proposal, with Evercore serving as financial advisor to Red Robin […] The nominees include Anthony Ackil, founder and CEO Streetlight Ventures LLC and former CEO B.Good LLC; Kenneth Todd Evans, vice president, franchise of UBIF Franchising Co.; Stephen J. Lombardo III, chairman and general counsel of Gibsons Restaurant Group; and Craig S. Miller, former president and CEO of Ruth’s Chris Steak House Inc. and current member of the National Restaurant Association. Shares of the company skyrocketed in the regular trading session following news that Vintage Capital, which controls about 1.5 million shares, or 11.5% of RRGB stock, has offered to buy the other 88% for $461.4 million, or $40 per in an all-cash transaction. The firm in early June called for an auction and said it would buy Red Robin at $40 a share. Red Robin Gourmet Burgers, Inc. and Vintage Capital Management, LLC announced today that they have reached an agreement to appoint Anthony Ackil … Red Robin Gourmet Burgers issued the following statement on September 11 in response to a letter from Vintage Capital Management, LLC (“Vintage”) dated September 10, 2019:The Red Robin Board and management team are focused on executing the company’s strategic plan to restore growth and improve profitability. An invaluable data source for traders & investors looking to familiarize themselves with the Vintage Capital takeover of Red Robin Gourmet Burgers (RRGB) and trade the merger arbitrage spread.Following the acquisition news and events section, there is in-depth company profile. The chain currently has more than 560 Red Robin restaurants across the United States and Canada. Number 8860726. Of those, 454 are company owned. Vintage Capital’s Acquisition Proposal Vintage Capital owns more than 11.5% of Red Robin and offered to acquire the hamburger chain in June 2019 for $40 per share, or a 58% premium to its unaffected stock price.

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