Darden Announces REIT Spinoff

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Darden Announces REIT Spinoff

Darden has announced plans to set up a real estate investment trust (REIT) splitting off some of its real estate assets. The plan involves a combination of leasebacks and the transfer of some assets into a REIT through a spinoff. The new REIT will become an independent, publicly traded company.

The restaurant operator has been targeted by Starboard Value for some time, and the activist hedge fund recently won some seats on the board of directors.

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