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Darden Restaurants Inc to spin off or sell Red Lobster restaurant chain - Reuters

Thursday, 19 Dec 2013 07:12am EST 

Darden Restaurants Inc:Says it would sell or spin off its Red Lobster business, buckling under pressure from activist investor Barington Capital Group - Reuters.Says Barington wants Darden to split into two companies - one that operates its mature Olive Garden and Red Lobster chains and another that includes its LongHorn Steakhouse, Seasons 52, Capital Grille, Yard House, Eddie V's and Bahama Breeze restaurants.Darden subsequently hired Goldman Sachs as financial adviser. 

Company Quote

-0.34 -0.53%
1:50pm EDT