Activist shareholders continue to oppose the proposed sale of Red Lobster by Darden Restaurants Inc., calling the deal “grossly misleading” in its valuation. Orlando, Fla.-based Darden said last week that it had agreed to sell its Red Lobster chain to private-equity firm Golden Gate Capital for $2.1 billion in cash. Darden expects to net about $1.6 billion after taxes and transaction costs, of which about $1 billion would go toward retiring debt. The remainder would go toward ...
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Contact: Desiree Torres Desiree.Torres@penton.com