Is the Denny’s buyout confirmed at $6.25 per share?

Yes. Management reaffirmed a $620 million take-private at $6.25 per share in USD, with a targeted close in Q1 2026. Most planned closures are largely complete, and new openings continue. Investors should still watch for the proxy, shareholder vote, financing updates, and routine regulatory clearances.

What is the current spread for DENN stock versus the offer?

Recent trading near $6.20 USD implies a gross spread of about 0.8% to the $6.25 offer. The annualized return depends on the exact close date. After fees, margin interest, and FX, the net spread will be smaller, so each account should model its own carry.

What are the main risks to the Denny’s buyout closing?

Key risks include financing, regulatory approvals, and any business deterioration. With closures largely finished, operational risk looks lower. Antitrust risk appears modest for a single-brand diner chain. A delay or break could widen downside, since upside is capped at the offer price.

How should Canadian investors handle FX for this merger arbitrage?

The offer is in USD, so CAD-based accounts face conversion costs. Consider using a USD sub-account to limit repeated FX conversions. Model commissions and interest costs against the small spread. Settlement proceeds will be USD, so plan when and how to convert to CAD if needed.

Global Market Insights

DENN Stock Today, December 26: $6.25 Buyout on Track as Closures Ease

ByHuzaifa Zahoor December 27, 2025December 27, 2025

Denny’s buyout is back in focus for Canadian investors after the company reaffirmed a $620 million take-private at $6.25 per share in USD with an expected Q1 2026 close. Management said most of the roughly 150 underperforming closures are complete, while new openings continue. For merger arbitrage, the setup tightens deal risk and clarifies timing. Shares of DENN trade just under the offer, leaving a modest spread that depends on closing speed, regulatory clearance, and the shareholder vote.