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Marriott Seeks to Buy Denny's

May 28, 1987|From Reuters

WASHINGTON — Marriott Corp., the big hotel and restaurant operator, said today it is holding discussions to buy Denny's Inc., a 1,200-unit restaurant company, from the investors who took it private two years ago.

Marriott, which last year paid just over $500 million for the Saga Corp. food-service and restaurant concern, said it is negotiating a definitive agreement with the La Mirada, Calif.-based Denny's. It would not disclose the proposed price. Denny's was taken private in January, 1985, by managers in a deal worth $753.4 million.

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