Darden Restaurants Terminates Material Agreement
Ticker: DRI · Form: 8-K · Filed: 2024-10-03T00:00:00.000Z
Sentiment: neutral
Topics: material-agreement-termination, corporate-events
TL;DR
Darden Restaurants just terminated a big deal. Keep an eye on this.
AI Summary
On September 30, 2024, Darden Restaurants, Inc. reported the termination of a material definitive agreement. The filing also included other events and financial statements/exhibits. No specific dollar amounts or names of counterparties were detailed in the provided text.
Why It Matters
The termination of a material definitive agreement could signal a change in strategic direction or a dispute, potentially impacting future business operations and financial performance.
Risk Assessment
Risk Level: medium — Termination of a material definitive agreement can introduce uncertainty and potential financial or operational impacts.
Key Numbers
- 09/30/2024 — Date of Report (Earliest event reported)
- 0525 — Fiscal Year End (Darden Restaurants' fiscal year end)
Key Players & Entities
- DARDEN RESTAURANTS, INC. (company) — Registrant
- 0000940944 (company) — Central Index Key
- 59-3305930 (company) — IRS Employer Identification No.
- 1000 Darden Center Drive, Orlando, Florida 32837 (company) — Principal executive offices
- GENERAL MILLS RESTAURANTS INC (company) — Former company name
FAQ
What was the nature of the material definitive agreement that was terminated?
The provided text does not specify the nature or terms of the material definitive agreement that was terminated.
Who was the counterparty to the terminated material definitive agreement?
The filing does not disclose the identity of the counterparty to the terminated material definitive agreement.
What is the financial impact of this termination on Darden Restaurants?
The filing does not provide specific details on the financial impact of the termination.
When was the material definitive agreement originally entered into?
The filing does not state the date when the material definitive agreement was originally entered into.
Are there any ongoing legal or financial implications from this termination?
The provided text does not offer information regarding ongoing legal or financial implications resulting from the termination.
Filing Stats: 1,186 words · 5 min read · ~4 pages · Grade level 10.8 · Accepted 2024-10-03 16:15:54
Key Financial Figures
- $400,000,000 — er 3, 2024, the Company issued and sold $400,000,000 aggregate principal amount of its 4.350
- $350,000,000 — r Notes due 2027 (the "2027 Notes") and $350,000,000 aggregate principal amount of its 4.550
- $600 million — s previously disclosed senior unsecured $600 million 2-year Term Loan Agreement, dated as of
Filing Documents
- d897447d8k.htm (8-K) — 30KB
- d897447dex11.htm (EX-1.1) — 212KB
- d897447dex41.htm (EX-4.1) — 164KB
- d897447dex51.htm (EX-5.1) — 17KB
- d897447dex52.htm (EX-5.2) — 10KB
- g897447g1003053845810.jpg (GRAPHIC) — 3KB
- 0001193125-24-232245.txt ( ) — 655KB
- dri-20240930.xsd (EX-101.SCH) — 2KB
- dri-20240930_lab.xml (EX-101.LAB) — 17KB
- dri-20240930_pre.xml (EX-101.PRE) — 11KB
- d897447d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d)Exhibits: Exhibit Number Description of Exhibit 1.1 Underwriting Agreement, dated September 30, 2024, among the Company and BofA Securities, Inc., Truist Securities, Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC, as representatives of the several underwriters named therein. 4.1 Officers' Certificate and Authentication Order, dated October 3, 2024, for the 4.350% Senior Notes due 2027 and the 4.550% Senior Notes due 2029. 5.1 Opinion of Hunton Andrews Kurth LLP. 5.2 Opinion of Anthony G. Morrow, Esq. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DARDEN RESTAURANTS, INC. By: /s/ Rajesh Vennam Rajesh Vennam Senior Vice President and Chief Financial Officer Date: October 3, 2024