ORLANDO, Fla. (AP) - Casual dining chain operator Darden Restaurants Inc. said Wednesday it has received several offers for its 73-restaurant Smokey Bones Barbeque & Grill chain, and agreed to exclusively negotiate a deal with an affiliate of Sun Capital Partners for 30 days.
Financial terms weren't disclosed.
To facilitate a quick closing, should a definitive agreement be reached, the affiliate has taken initial steps to meet certain licensing requirements.
After 30 days, if a satisfactory definitive agreement hasn't been reached, Darden may resume discussions with other bidders.
Darden Restaurants owns and operates more than 1,700 restaurants including Red Lobster, Olive Garden, LongHorn Steakhouse, The Capital Grille, Bahama Breeze and Seasons 52. Shares rose 5 cents to close earlier at $40.61.
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