Vintage Capital Says Red Robin Board's Should Conduct Review Of Strategic Alternatives

Activist investor Vintage Capital is making some demands of Red Robin Gourmet Burgers, Inc. RRGB, saying, “the board should immediately commence a comprehensive review of strategic alternatives.”

Red Robin’s stock is down 51% over the past year amid mounting sales and profitability challenges.

An amended 13D filing from Vintage Capital shows a 11.6% stake in the restaurant chain. The activist investor said “subject to confirmatory due diligence, we would be prepared to bid $40.00 per share in the auction process to acquire 100% of the company in an all-cash transaction.”

Red Robin shares traded higher by 26.6% to $32.25 in Thursday's pre-market session.

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Photo by Cbraccialini/Wikimedia.

RRGBRed Robin Gourmet Burgers Inc

$2.90-0.68%