Darden commences offer for Rare

ORLANDO Fla. Darden Restaurants Inc. on Aug. 31 commenced its tender offer to acquire all outstanding shares of common stock of Rare Hospitality International Inc. for $38.15 per share. The two restaurant companies announced Aug. 16 that they had agreed to a merger in which Darden is purchasing the steakhouse operator for about $1.4 billion, including debt, making it one of the largest strategic purchases in the industry.

The purchase is being made for Darden

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