On January 21, 2014, Starboard Value LP delivered a letter to Darden Restaurants, Inc expressing its concerns with the proposed separation of Red Lobster. In addition, Starboard Value expressed its view that the proposed separation will impair the Company's ability to realize full value for the Company's real estate holdings and could destroy shareholder value. Further, Starboard Value urged management and the Board to delay the separation of Red Lobster and to conduct an evaluation of all opportunities to create value for the benefit of all shareholders.