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’s board is in the process of reviewing and considering the proposal, with Evercore serving as financial advisor to Red Robin and Paul, Weiss, Rifkind, Wharton & Garrison LLP serving as its legal counsel.
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. The chain currently has
more than 560 Red Robin restaurants across the United States and Canada.
Vintage Capital currently owns 12 per cent of Red Robin.