Earlier this week, activist investor Starboard said it condemns Darden for apparently trying to rush an irreversible and potentially value-destructive Red Lobster sale without shareholder approval. Starboard owns 5.5% of Darden and recently warned a sale of Red Lobster could destroy up to $800 million of shareholder value.....Red Lobsters new private equity overlords will face a tough task as they attempt to revitalize the business. But because Red Lobster wont be publicly traded anymore, Golden Gate can avoid harsh scrutiny from Wall Street. One person familiar with the deal noted that a Red Lobster spin-off would have been a hard sell to investors. Im ready for BLUE LOBSTER if they decide to spin-off in other ways. Are you? money.cnn/2014/05/16/investing/darden-red-lobster/index.html?iid=HP_LN
Posted on: Fri, 16 May 2014 15:39:16 +0000
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