Darden said it completed its merger with Chuy's Holdings, Inc. on October 11, 2024, with Chuy's continuing as an indirect, wholly-owned subsidiary of Darden. The company said the deal was an all-cash transaction.

1. 01

   Darden said it completed its merger with Chuy's Holdings, Inc. on October 11, 2024, with Chuy's continuing as an indirect, wholly-owned subsidiary of Darden. The company said the deal was an all-cash transaction.

2. 02

   Darden said that at the effective time of the merger, 1 shares of Chuy's common stock were converted into the right to receive $37.50 in cash, without interest. The company said restricted stock units were deemed fully earned and vested, and were cashed out at the same merger consideration.

3. 03

   Darden said the total consideration it paid for Chuy's common stock was approximately $660 million, including amounts payable to holders of restricted stock units. The company said its press release stated that the all-cash deal had an enterprise value of approximately $605 million.

4. 04

   Darden said it financed the acquisition with part of the proceeds from a $400 million offering of 4.350% senior notes due 2027 issued on October 3, 2024, and a $350 million offering of 4.550% senior notes due 2029.

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Original filing

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