Chuy's Holdings Stock Soars On Darden Takeover Deal: What You Need To Know
Portfolio Pulse from Adam Eckert
Chuy's Holdings Inc (NASDAQ:CHUY) shares surged after the company announced it will be acquired by Darden Restaurants, Inc. (NYSE:DRI) for $37.50 per share in cash, valuing the deal at approximately $605 million. The acquisition is expected to be neutral to Darden's net earnings per share for fiscal 2025.
July 17, 2024 | 9:29 pm
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POSITIVE IMPACT
Chuy's Holdings Inc (NASDAQ:CHUY) shares surged 47.41% after the announcement of its acquisition by Darden Restaurants for $37.50 per share in cash, valuing the deal at approximately $605 million.
The acquisition news directly impacts Chuy's Holdings, causing a significant surge in its stock price. The all-cash deal at a premium price per share is highly favorable for CHUY shareholders.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEUTRAL IMPACT
Darden Restaurants, Inc. (NYSE:DRI) announced the acquisition of Chuy's Holdings for $37.50 per share in cash, valuing the deal at approximately $605 million. The acquisition is expected to be neutral to Darden's net earnings per share for fiscal 2025.
While the acquisition is a strategic move for Darden, it is expected to be neutral to its net earnings per share for fiscal 2025, indicating a neutral short-term impact on DRI's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100