Definition - What does Closing Dinner mean?
A closing dinner is an event hosted by an investment bank for its employees and the owners of the selling business after a successful deal in selling a target company. The investment bank will typically pay for all expenses incurred.
Divestopedia explains Closing Dinner
A closing dinner is held after the closing date of a major deal transaction and is often attended by senior management from both parties involved as well as the employees who worked on the deal transaction. Some may host the dinner locally while others may choose to host a weekend out of town, depending on the money made out of the deal transaction. Its purpose is to congratulate all of the employees involved for their good work and to encourage them to continue their efforts in the next deal they're involved with.
Finally, the dinner is held in the weeks following a successful deal execution, but may, at times, take place months after when all of the legal paperwork has been signed and filed by both parties.