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Private equity firm offers to buy Red Robin

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Private equity firm Vintage Capital Management LLC said it would be willing to pay $40 per share for Red Robin Gourmet Burgers Inc.

Should that deal happen, it would value the burger chain at $519 million, a 57% premium to the company's Wednesday closing price.

Vintage Capital, which holds an 11.6% stake in Red Robin, is calling on the company to launch a review of its strategic alternatives, including a sale.

Read more from The Wall Street Journal.

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