Denny’s is being taken private

Denny's, the American diner chain, is going private in a roughly $300 million deal. Justin Sullivan/Getty Images New York —

Denny’s, the struggling, 72-year-old diner chain , is selling itself to a group of investors who are taking the business private.

The company announced Monday that it’s sold itself to TriArtisan Capital Advisors, a private equity firm that also owns P.F. Chang’s, and Yadav Enterprises, a major Denny’s franchisee, in a $322 million deal (excluding its substantial debt load).

Denny’s board approved the deal. If accepted by shareholders, Denny’s stock will be delisted from the Nasdaq, ending a nearly six-decade run on the public stock market.

Shares jumped 50% in premarket trading Tuesday. Prior to Tuesday, the stock had lost about a third of its value this