Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) confirmed it has received an unsolicited conditional proposal from Vintage Capital Management, LLC 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.
There are more than 560 Red Robin restaurants across the United States and Canada, including locations operating under franchise agreements.