Friday, 29 August 2014
Last updated 51 min ago
Jan 2 2014 | 10:15am ET
A second hedge fund is taking aim at Darden Restaurants, calling its plan to spin off only its Red Lobster chain insufficient.
Darden, which owns eight restaurant chains, said last month that it would separate Red Lobster, one of its underperforming businesses. The move followed pressure from Barington Capital Group, which has called for a spin-off of both Red Lobster and the Olive Garden, as well as a spin-off of its real-estate holdings.
Now, Darden is also facing off against Starboard Value, which has taken a 5.6% stake in the company—twice as large as that held by Barington. And Starboard is not impressed with the spin-off plans.
“Starboard believes that the plan outlined by management falls significantly short of the actions required to maximize shareholder value,” Starboard’s Jeffrey Smith wrote in a Securities and Exchange Commission filing before Christmas.
Darden said that it hasn’t “even been contacted by Starboard.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...