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  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Starboard Value",
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  "presentationDate": "2014-03-31 00:00:00",
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  "notes": "This is a classic activist 'villain' framing where management is accused of acting in their own interest rather than for shareholders.",
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      "kind": "callout",
      "text": "The Red Lobster Separation may result in a permanent destruction of shareholder value.",
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      "text": "On December 19, 2013 Darden Restaurants, Inc. announced that it would separate its Red Lobster business and it expects to accomplish this through a spin-off into a new public company.",
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      "text": "We believe that not only is the decision to separate Red Lobster at this time a mistake, but that it is irreversible and could lead to substantial destruction of shareholder value.",
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      "text": "We believe this decision is a hurried, reactive attempt by management and the Board of Directors of Darden in the face of shareholder pressure, to conveniently cast off the weight of the struggling Red Lobster business.",
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      "text": "We believe management is attempting to force through a poorly conceived and potentially value destructive separation of Red Lobster despite the objections of certain significant shareholders.",
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      "text": "We have serious concerns about the Red Lobster Separation and shareholders have the right to be heard",
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