Darden Restaurants Inc (DRI.N)
4 Sep 2015
NEW YORK - Darden Restaurant Inc's plans unveiled this week to spin off some of its holdings into a real estate investment trust points to a gold mine others can tap, but a recent statement by the U.S. tax authority raises cautionary flags.
- Darden Restaurants Inc said it plans to separate some of its restaurants into a publicly traded real estate investment trust as part of changes engineered by activist investor Starboard Value LP. | Video
June 23 - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Tuesday:
* Shares hit record high of $73.40 (Adds details from conference call, updates shares)
June 23 - Darden Restaurants Inc said it intends to separate part of its real estate assets into a real estate investment trust (REIT) as part of a plan to pay down about $1 billion of debt.
BOSTON, May 22 - Barington Capital Group won its proxy contest by scoring two board seats at Eastern Co this week as shareholders widely backed the activist hedge fund's call to add new blood at the industrial hardware maker.
* Sarvary, 2 directors to tender resignation as board members
March 20 - Darden Restaurants Inc said on Friday it was seeking to "create value" from its real estate, as management installed after last year's activist investor-led coup reported continued traffic declines at its flagship Olive Garden chain.
March 20 - Darden Restaurants Inc said on Friday it was looking for ways to "create value" from its real estate, as management installed after last year's activist investor-led coup reported continued traffic declines at its flagship Olive Garden chain.
LOS ANGELES, March 20 - * Darden Restaurants Inc exploring options for real estate, including sale and leaseback deals * Darden says has secured letters of intent or contracts on the majority of 31 listed properties at cap rates well below 6 percent * Darden has listed its Orlando, Florida, headquarters, options include sale and leaseback * Darden says real estate proceeds will be used to repay debt and improve credit profile * Darden says has identified $90-$100 mln of potential cost
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