Darden’s Spinoff Move A ‘Bad Idea’: Starboard

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Mani
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darden restaurants

Darden Restaurants, Inc. (NYSE:DRI)’s move to separate its Red Lobster chain would deprive the parent company of almost half of its real estate, activist investor Starboard Value LP said today. The activist investor’s Chief Executive Officer was speaking at the Active-Passive Investor Summit in New York. Meanwhile, citing known sources, CNBC has just reported that Starboard Value LP has won the consent of 54% of Darden Restaurant’s shareholders to call a special meeting. Starboard pushes to abandon ill-conceived plan In February, Starboard Value LP sent a letter to the leadership of Darden Restaurants, Inc. (NYSE:DRI) reiterating its position that the current…

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Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports