Wednesday, October 10, 2007

Olstein Capital Discloses 9.5% stake in Denny's (DENN), Plans To Communicate With Company

In an amended 13D filing on Denny's Corporation (Nasdaq: DENN), Olstein Capital Management disclosed a 9.5% stake (8,887,100 shares) in the company.

Olstein said they believes that the stock is undervalued and that steps can and should be taken by the company to increase the market valuation of the stock. Olstein plans to communicate with the company on alternatives for realizing the unrecognized value and suggestions for improving the company's financial strength. Olstein intends to continue its dialogue with, and to take an active interest in, the company regarding, among other things, the company's strategic direction.

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