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  "documentTitle": "Darden Restaurants, Inc. (DRI)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2014-03-31 00:00:00",
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  "notes": "This slide outlines the conditions/prerequisites the activist believes are necessary before a spin-off or separation should occur.",
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      "text": "To be clear, we are not saying that the Company should never separate Red Lobster, or any other restaurant concept, but rather that now is not the right time to separate Red Lobster.",
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      "text": "Before rushing to separate Red Lobster, we believe a more comprehensive Company-wide plan must be crafted that includes:",
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      "text": "Value creation and enhanced returns on capital through franchising.",
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      "text": "A strategy to realize maximum value for the Company's owned real estate (see our accompanying real estate presentation titled, A Primer on Darden's Real Estate).",
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      "text": "A detailed operational turnaround plan for Darden that includes substantial cost savings and a comprehensive strategy to fix the struggling Red Lobster and Olive Garden concepts.",
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      "text": "A portfolio approach to determine the right mix of concepts to own or separate.",
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