date:May 23, 2014
Starboard Value LP launched a fight to take over the board of Darden Restaurants Inc (DRI.N), saying the planned sale of Darden's Red Lobster seafood chain was a value-destructive transaction that ignored the rights of shareholders.
Darden said last week it would sell Red Lobster to private equity firm Golden Gate Capital for $2.1 billion, defying Starboard and another activist investor that had opposed the sale of the struggling chain.
Starboard, which said on Thursday that it had increased i