SCHEDULE 13D
(Rule 13d-101)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Under the Securities Exchange Act of 1934
Amendment No. 5
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DENNY'S CORPORATION
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
24869P104
(CUSIP Number)
Mellon HBV Alternative Strategies LLC
200 Park Avenue, Suite 3300
New York, NY 10166-3399
(212) 808-3950
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 31, 2004
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. ____
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page. The information required on
the remainder of this cover page shall not be deemed to be "filed" for the
purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however, see the Notes).
Page 2 0f 5
(CUSIP Number): 24869P104
1 NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mellon HBV Alternative Strategies LLC
I.R.S. No.: 13-4050836
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) (b)
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
00
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7 SOLE VOTING POWER
13,864,273
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8 SHARED VOTING POWER
0
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9 SOLE DISPOSITIVE POWER
13,864,273
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10SHARED DISPOSITIVE POWER
0
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11AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
13,864,273
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12CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
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13PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.4%
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14TYPE OF REPORTING PERSON*
IA
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Page 3 Of 5
Introduction:
This Amendment No. 5 to the Schedule 13D is being filed by the Reporting
Person to reflect sale transactions of the Company's Common Stock previously
disclosed on a Form 4 filed by the Reporting Person.
Item 1. Security and Issuer
Security: Common Stock, $0.01 par value per share ("Common Stock").
Issuer's Name and Address:
Denny's Corporation (the "Company"), 203 Main Street, Spartanburg, SC
29319-9966.
Item 2. Identity and Background
(a) Mellon HBV Alternative Strategies LLC (the "Reporting Person") which
acts as investment advisor and authorized agent for each of the funds named on
Exhibit A hereto. Each such fund sold for its respective account the number of
shares of the Common Stock set forth opposite its name on Exhibit A.
(b) The Reporting Person is a Delaware limited liability company with its
principal executive offices located at 200 Park Avenue, Suite 3300, New York, NY
10166-3399.
(c) The Reporting Person serves as investment advisor of Mellon HBV Master
Rediscovered Opportunities Fund L.P., Mellon HBV Master Multi-Strategy Fund
L.P., Axis RDO Ltd., Mellon HBV Capital Partners L.P., Mellon HBV Distressed
Recovery Master Fund Ltd., Mellon HBV Leveraged Multi-Strategy Fund L.P., Mellon
HBV Master U.S. Event Driven Funds L.P., Lyxor/Mellon HBV Rediscovered
Opportunity Fund Ltd. and HFR DS Performance Master Trust (collectively, the
"Clients"). The Reporting Person has sole voting and dispository power over the
shares of Common Stock held by each such fund.
(d)-(e) During the last five years neither the Reporting Person, nor, to
the best of its knowledge, any of its directors, executive officers, controlling
persons or members, has been (i) convicted of any criminal proceeding (excluding
traffic violations or similar misdemeanors) or (ii) a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and as
a result of such proceeding was or is subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities
subject to federal or state securities laws or finding any violation with
respect to such laws.
Item 5. Interest in Securities of the Issuer
(a) As of December 31, 2004, the Reporting Person beneficially owned in the
aggregate 13,864,273 shares of the Company's Common Stock (the "Shares"),
representing approximately 15.43% of the outstanding Common Stock (based on
89,856,916 shares issued and outstanding as of November 1, 2004, as reported in
the Company's Form 10-Q for the quarter ending September 30, 2004 filed on
November 15, 2004).
(b) The Reporting Person has the sole power to vote or to direct the vote
and the sole power to dispose and to direct the disposition of the Shares.
(c) Information relating to the transaction effected by the Reporting
Person with respect to the Common Stock appear on Exhibit A attached hereto.
(d) Not applicable.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with
Respect to Securities of the Issuer
None.
Item 7. Material to be Filed as Exhibits
None.
Page 4 Of 5
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: January 5, 2005
MELLON HBV ALTERNATIVE STRATEGIES LLC.
By: /s/ WILLIAM F. HARLEY III
--------------------------------------------
William F. Harley III
President and Chief Executive Officer
Page 5 of 5
Exhibit A
Information with respect to sales of the Common Stock of the Company
effected by the Reporting Person since the Reporting Person's last filing on
Schedule 13D relating to the Company.
NAME OF FUND DATE Sale Price SHARES
-------------------------------------------------------------- ----------------- ------------------ ------------------
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Mellon HBV Master Rediscovered Opportunities Fund, L.P. December 30, 4.55 167,845
2004
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December 31, $4.50 209,808
2004
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December 31, $4.5342 10,495
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
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Mellon HBV Master Multi-Strategy Fund L.P. December 30, $4.55 91,316
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
December 31, $4.50 114,145
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
December 31, $4.5342 5,707
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
Mellon HBV Capital Partners L.P. December 30, $4.55 7,994
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
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December 31, $4.50 9,992
2004
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December 31, $4.5342 499
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
Axis-RDO Limited December 30, $4.55 27,019
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
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December 31, $4.50 33,773
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
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December 31, $4.5342 1,688
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
HFR DS Performance Master Trust December 30, $4.55 28,445
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
December 31, $4.50 35,556
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
December 31, $4.5342 1,777
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
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Distressed Recovery Master Fund Ltd. December 30, $4.55 14,339
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
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December 31, $4.50 17,923
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
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December 31, $4.5342 896
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
Mellon HBV Leveraged Multi-Strategy Fund L.P. December 30, $4.55 23,038
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
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December 31, $4.50 28,798
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
December 31, $4.5342 1,439
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
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Mellon HBV Master U.S. Event Driven Funds L.P. December 30, $4.55 5,356
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
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December 31, $4.50 6,695
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
December 31, $4.5342 334
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
Lyxor/Mellon HBV Rediscovered Opportunities Fund Ltd. December 30, $4.55 34,648
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
December 31, $4.50 43,310
2004
-------------------------------------------------------------- ----------------- ------------------ ------------------
-------------------------------------------------------------- ----------------- ------------------ ------------------
December 31, $4.5342 2,165
2004
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