DRI - Why Chuy's Stock Is Soaring | Benzinga
Chuy’s Holdings, Inc. (NASDAQ:CHUY) shares are trading higher Thursday after Darden Restaurants, Inc. (NYSE:DRI) announced it will acquire the company.
The Details:
Darden will acquire all of Chuy's outstanding shares for $37.50 per share in an all-cash transaction with an enterprise value of approximately $605 million. The transaction is expected to be completed in Darden’s fiscal second quarter, subject to satisfaction of customary closing conditions.
Chuy’s will join Darden’s portfolio of brands, which includes Olive Garden, LongHorn Steakhouse, Yard House, Ruth’s Chris Steak House, Cheddar’s Scratch Kitchen, The Capital Grille, Seasons 52, Eddie V’s and Bahama Breeze.
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“We are excited about the opportunity to join the Darden family and its portfolio of well-respected brands. Darden shares many of our same ...