A Denny’s Inc. shareholder sued to block a merger.
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The La Mirada-based company said an unidentified shareholder filed a suit in Superior Court alleging that the $43-a-share price offered by a newly formed private company composed of Denny’s management, Merrill Lynch Capital Markets and various financial institutions is inadequate. The suit seeks damages and an injunction to prevent the completion of the transaction. Denny’s has scheduled a special shareholders meeting Jan. 24 to approve the deal.
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