Activist investor Starboard Value LP, which didn't want Darden Restaurants Inc to sell the Red Lobster seafood chain, is launching a fight to take over the Darden board, the Wall Street Journal reported, citing people familiar with the matter.
The sale of the struggling seafood chain was a catalyst for Starboard seeking to take over the entire board, the report said.
In response, a Darden spokesman said in an emailed statement that the board "will consider the Starboard nominations in due course" and it is focused on creating value for all shareholders.
