M&A
confidence high
sentiment positive
materiality 0.75
Darden completes acquisition of Chuy's Holdings for ~$605M enterprise value
DARDEN RESTAURANTS INC
- Chuy's stockholders receive $37.50 per share in all-cash transaction; aggregate consideration ~$660M.
- Acquisition financed by $400M 4.350% notes due 2027 and $350M 4.550% notes due 2029 issued Oct 3.
- Chuy's common stock ceased trading on Nasdaq following the merger close on Oct 11, 2024.
- Chuy's joins Darden's brand portfolio including Olive Garden, LongHorn Steakhouse, and Ruth's Chris.
- Transaction approved by Chuy's stockholders on Oct 10, 2024.