Olive Garden owner Darden to Acquire Chuy’s in a $605 Million All-Cash Deal

Olive Garden owner Darden Restaurants, Inc. (DRI) on July 17, 2024, entered into a definitive agreement to buy full-service restaurant operator Chuy’s Holdings, Inc. (CHUY) in an all-cash deal for $605 million.

Deal Structure:

As per the agreement, Darden will buy Chuy’s for $37.50 per share in cash, representing a premium of 48.40% from the stock’s last close.

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