Tag Archives: Darden Restaurants

Miracle On 34th Street- Is Starboard’s Plan To Unlock Value Back On The Table At Macy’s (M)?

As we discussed back in November 2015, Starboard Value Partners, led by the brash Jeffrey Smith, had acquired a stake in Macy’s(M) and pushed for a spinoff of the real estate into a REIT(Real Estate Investment Trust). Now, with the stock down 60% from Starboard’s purchase price and longtime Macy’s CEO Terry Lundgren stepping down, the plan may… Read More »

All Hands On Deck- Starboard Goes All In On Darden Following Red Lobster Sale

What to do when a majority of your shareholders support calling a special meeting before you divest an important asset? Go ahead, ignore them, and do what you want, says Darden(DRI). With the $2.1 billion sale of Red Lobster a fait accompli, despite strong opposition from holders, Starboard Value has stepped on the gas in its attack. While… Read More »

Darden Incites Activists By Scrapping Spin And Selling Red Lobster For $2.1 Billion

While the Olive Garden famously stuffs its patrons with a never ending pasta bowl, its parent company, Darden Restaurants (DRI), is providing investors some never ending drama. Ever since announcing plans to spin off the declining Red Lobster, Darden has been besieged by not one, but two different activist investors. As we noted earlier, Barrington Capital is pushing… Read More »

Amidst Activist Opposition, Darden Persists With Plan To Spin Off Red Lobster

We’ve been quite remiss in not discussing Darden’s(DRI) plan to spinoff Red Lobster and the ongoing activist fight over the company’s direction.  Both Barrington Capital with 2.8% of the company and Starboard Value, with 5.5%, have been sparring with the firm. Barrington had proposed that the the firm separate its low-growth brands, Red Lobster and Olive Garden, from… Read More »