Darden said it will acquire all the outstanding shares of Chuy’s for $37.50 per share. The price represents a 40% premium to Chuy’s 60-day volume weighted price.
San Diego-based pet food retailer said that interim CEO R. Michael Mohan would transition to a new role leading a board committee focused on value creation.
Daimler Truck said it took a €120 million hit from a write-down of its China joint venture due to a persistently weak market and that its full-year guidance was under review.
Five Below replaced its longtime chief executive and cut its outlook for the second quarter as the discount retailer continues to grapple with slower consumer spending.