secwatch.observer — SEC 8-K summary
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Issuer:     DARDEN RESTAURANTS INC (DRI)
CIK:        0000940944
Form:       8-K
Filed at:   2023-06-14T23:59:59+00:00
Accession:  0001193125-23-166574
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.80
Item codes: 2.01, 2.03, 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Darden completes $715M all-cash acquisition of Ruth's Hospitality Group
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- Darden acquired Ruth's Hospitality Group for $21.50/share cash; total consideration ~$715 million.
- Tender offer expired with 22.85M shares (71.2% of outstanding) validly tendered; all conditions satisfied.
- Acquisition funded via $600M 3-year senior unsecured term loan and cash on hand.
- Ruth's Chris operates 155 locations (81 company-owned, 74 franchised); stock delisted from Nasdaq.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/940944/000119312523166574/0001193125-23-166574-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/940944/000119312523166574/d491268d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-166574

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer