Starboard Opposes Red Lobster Separation - Quick Facts

(RTTNews) - Starboard Value LP, one of the largest shareholders of Darden Restaurants, Inc. (DRI), with ownership of approximately 5.5% of the outstanding common stock of the company, announced that it has issued an investor presentation outlining in detail its serious concerns with the proposed separation of Red Lobster.

Starboard believes the Red Lobster Separation is the wrong spin-off, at the wrong time, and for the wrong reasons, and that the Special Meeting is necessary because Darden appears intent on completing the Red Lobster Separation prior to the 2014 Annual Meeting of Shareholders, when all directors are up for election.