How Starboard Value weaponized pasta water to overthrow Olive Garden's corporate board.
With just an 8.8% stake, the fund extracted $2.3 billion in real estate from Darden in 2014.
Jeffrey Smith presented a devastating 294-page presentation roasting Darden Restaurants on unsalted pasta to force an OpCo-PropCo REIT spin-off. Viewers still ask how did Starboard Value take over Darden when incumbent executives refused to sell. By late 2015, Four Corners Property Trust emerged with over $400 million in newly listed commercial leases.
A private masterclass on the operational-wedge takeover. Discover how Starboard Value leveraged an 8.8% equity stake, forensic operational audits, and an OpCo-PropCo REIT spin-off to decapitate Darden Restaurants' incumbent board.
The next lesson lands in seven days. Be here for it.
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