Darden's Red Lobster Spinoff Plan Falls Short, Activist Says

Law360, New York (January 13, 2014, 12:56 PM EST) -- The activist investor pushing for a shakeup at Darden Restaurants Inc. on Monday criticized the Florida company's plans to spin off its famous Red Lobster unit, saying the “incomplete and inadequate” move mistakenly fails to tap into a $4 billion real estate portfolio.

Darden last month bowed to pressure from New York-based Barington Capital Group LP, which for months had pressed the restaurant company to split its older brands, Red Lobster and Olive Garden, from a half-dozen other chains it picked up in recent years in...
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