Del Frisco's Restaurant Group Inc (NASDAQ:DFRG) shares popped after a report from TheDeal.com revealed that the group has received acquisition bids worth about $9 per share.
The stock jumped 31% to to close at $6.23 Monday.
Del Frisco's operates 75 restaurants in 16 states and DC, including Double Edge Steakhouse, bartaco, Barcelona Wine Bar and Del Frisco's Grille.
Darden is interested in buying the whole business, the report said, while Ruth’s and Landry’s are targeting the steakhouses.
On Thursday, the company announced a reduction in force force affecting between 12 and 15% of its general and administrative workforce.
“A reduction in force is a difficult but necessary step and we are committed to treating impacted employees with respect and support through this period of change,” CEO Norman Abdallah said in a statement.
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