Olive Garden owner Darden buys Ruth's Chris group for $715M

Olive Garden owner Darden Restaurants agreed to acquire Ruth's Hospitality Group, owner and operator of Ruth's Chris Steak House, for $21.50 per share. Why it matters: Valued at $715 million, the deal represents the largest restaurant group merger this year. Details: The all-cash transaction comes with a 32% premium over Ruth’s share price over the last 30 days. • Jefferies and Kirkland & Ellis served as sell-side financial and legal advisers to Ruth's, respectively. Hunton Andrews Kurth was Darden's legal adviser. Catch up quick: Ruth's has 154 locations worldwide, 80...