Darden Says It Will Separate Red Lobster, Despite Pressure

Law360, New York (March 3, 2014, 5:58 PM EST) -- Darden Restaurants Inc. said on Monday that it will proceed with its plan to either spin off or sell Red Lobster, despite recent criticisms from shareholders, saying that a split would benefit the company, its shareholders and the seafood chain.

According to a Monday news release from Darden, the company disagrees with recent criticism from shareholders who say that the company has failed to manage its resources effectively, and has already begun talks with unnamed entities that might be interested in buying Red Lobster.

"We are...
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