date:Apr 02, 2014
Starboard Value L.P., an investment firm that owns approximately 5.5% of Darden Restaurants, Inc. stock, is urging other shareholders to resist the companys efforts to spin off its Red Lobster banner. Starboard Value said the move will erode shareholder value and is calling for a special meeting of shareholders so it may present its concerns and possibly bring about change.
Starboard believes the Red Lobster separation is the wrong spin-off, at the wrong time, and for the wrong reasons, and tha