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  "documentTitle": "Darden Restaurants, Inc. (DRI)",
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  "authorName": "Starboard Value",
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  "presentationDate": "2014-09-11 00:00:00",
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      "text": "We believe that Darden's remaining real estate is worth $2.5 to $3 billion, and that separating the real estate could create ~$6 - $10 of value per share",
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      "text": "In our March 31st Primer on Darden's Real Estate... we presented an extensive valuation... 1. Darden's real estate was worth approximately $4 billion... 2. Separating the real estate could create an additional $1-2 billion... 3. Minimal debt breakage... 4. Maintain dividend.",
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      "text": "Although the Red Lobster Sale reduced the size of the real estate opportunity, the price paid by ARCP confirmed our belief that Darden's real estate is highly valuable... Pro forma for the Red Lobster Sale, we believe that Darden's remaining real estate is worth $2.5 to $3 billion.",
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      "text": "shareholder value: $2.5 to $3 billion",
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      "text": "Even after the Red Lobster Sale, Darden still has the largest real estate portfolio in the casual dining industry, owning both the land and buildings on nearly 600 stores and the buildings on another 670.",
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