Seeking Alpha

Darden Restaurants fires shots at Starboard Value

  • Darden Restaurants (NYSE:DRI) claims Starboard Value has made misleading statements in regard to the sale of Red Lobster.
  • The company says the $2.1B deal price reps a premium multiple compared to other restaurant deals.
  • A final shot from Darden warns that if Starboard is successful in replacing the entire Darden board, investors could see the $2.20 annual dividend slashed or eliminated.
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