An activist investor of Darden Restaurants Inc. isn’t taking the company’s recent moves lightly. Jeffery Smith, managing member of New York-based hedge fund Starboard Value LP, on July 15 sent a scathing letter to the board of Orlando-based restaurant firm (NYSE: DRI) saying Darden’s pending $2.1 billion sale of its Red Lobster business and the actions that led up to that sale show blatant disregard for shareholder value. In fact, Smith called the sale to Red Lobster — which took place…
Reported by bizjournals 15 hours ago.
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