Darden Restaurants Acquires Ruth's Hospitality Group for Over $700 Million
Darden Restaurants, the parent company of Olive Garden and LongHorn Steakhouse, has entered into a merger agreement with Ruth’s Hospitality Group.
The deal will see Darden acquire all the outstanding shares of Ruth’s for $21.50 per share in a fully-cash transaction with an equity value of approximately $715 million.
Darden said Ruth’s Hospitality Group, which owns and operates Ruth’s Chris Steak House, “will complement Darden's portfolio of differentiated brands which currently includes Olive Garden, LongHorn Steakhouse, Yard House...
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