date:Dec 20, 2013
As part of a comprehensive plan to increase shareholder value, the board of directors for Darden Restaurants, Inc. has approved a tax-free spin-off or sale of the seafood chain.
Other components of the review include reducing unit growth at Olive Garden and LongHorn Steakhouse, lowering capital expenditures and forgoing acquisitions of additional brands. The company expects to increase cost savings through aggressive operating support cost management and enhanced cost efficiencies in order to i