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What will be Darden Restaurants' stock price at the end of 2024?
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Story
Darden Restaurants to Acquire Chuy's Holdings for $37.50 per Share in $605 Million Deal
Jul 17, 2024, 08:22 PM
Darden Restaurants ($DRI), the parent company of Olive Garden and Ruth’s Chris Steak House, has announced an agreement to acquire Chuy’s Holdings ($CHUY) for $37.50 per share in an all-cash deal. The acquisition, which represents an enterprise value of approximately $605 million, was jointly announced on July 17, 2024. This deal offers a significant premium of 50% over Chuy's recent stock price and values the company at over 10 times its last twelve months (LTM) EBITDA and 20 times EPS. Chuy's, a Tex-Mex restaurant chain based in Austin, will be added to Darden's portfolio of casual-dining brands.
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