Mergers And Acquisitions
Darden Sees Profit Drop 35% After Red Lobster Sale Announcement
The parent company of Olive Garden and Red Lobster missed analyst earnings estimates for the fourth quarter. Executives, who are facing shareholder opposition to the $2.1 billion sale of Red Lobster, called fiscal 2014 "a year of transformation."
Employees Often End Up The Losers In Activist Investing Campaigns
Experts say that while activist investing campaigns can be great for shareholders, they often result in job losses, stagnating wages, and increased hours for employees. One such example can be seen in the impending integration of Jos. A. Bank into Men's Wearhouse, a merger that resulted from a fiercely contested activist investing campaign.
Morgan Stanley's Merger Might
The investment bank, led by CEO James Gorman, reported a 56% profit gain to $1.46 billion in the first quarter. The gain was owed in part to its investment banking business, where Morgan Stanley topped the rankings in global mergers and acquisitions advising during the quarter.