Starboard launches fight for entire Darden board

By

SeafoodSource staff

Published on
May 22, 2014

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.

Click here to read the full story from Reuters >

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