Darden Restaurants, Inc. Buyback
OLI recorded this information on 7/31/2014
Company:
Darden Restaurants, Inc.
Buyback:
DRI buyback
$Amount Announced Repurchased:
$500,000,000
Buyback Details:
Darden Restaurants, Inc. (NYSE: DRI) today announced that it has entered into agreements with each of Goldman, Sachs & Co. and Wells Fargo Bank, National Association (each, a "Dealer") to repurchase an aggregate of $500 million of the Company's common stock under an accelerated stock buyback program (the "ASB transactions"). A portion of the proceeds from the Company's recently completed Red Lobster transaction will be used to fund the ASB transactions.
Darden Restaurants is a restaurant company. Co. owns and operates the Olive Garden®, LongHorn Steakhouse®, Cheddar's Scratch Kitchen®, Yard House®, The Capital Grille®, Seasons 52®, Bahama Breeze® and Eddie V's Prime Seafood® restaurant brands located in the U.S. and Canada. Co. also has restaurants operated by independent third parties pursuant to area development and franchise agreements. Co. has four reportable segments: Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille and Eddie V's) and Other Business (which includes Cheddar's Scratch Kitchen, Yard House, Bahama Breeze, Seasons 52 and its franchise operations).
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Avg. Broker Rec.
 
|
Buy (3.43 out of 4) 43rd percentile
(ranked lower than approx. 57% of all stocks covered)
Analysts' Target Price: DRI Stock Forecast Based on Zacks ABR data; powered by Xignite |
