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Darden unfazed by criticism, intends to continue with Red Lobster spin-off

  • Darden Restaurants (DRI -0.7%) aims to continue with its planned spin-off of Red Lobster despite renewed criticism by Starboard Value and Barrington Group.
  • The company writes, "While we appreciate the views of our shareholders, we have completed a comprehensive evaluation of alternatives [...], including those suggested by Starboard and others. [...] We believe the comprehensive plan we announced in December is in the best interest of all Darden shareholders, and we are moving forward with that plan."
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