Activist investor Starboard Value has a roughly $1 billion stake in pharmaceutical giant Pfizer and is seeking to mount a turnaround at the struggling company, according to people familiar with the matter.

tag:reuters.com,2022:binary_RC2QXX9HQMLT-BASEIMAGE

Reuters

United Kingdom

Activist investor Starboard Value takes $1 bln stake in Pfizer, sources say

Activist investor Starboard Value has taken a stake of about $1 billion in Pfizer and wants the U.S. drug giant to make changes to turn its performance around, sources familiar with the matter said on Sunday.

Ad Fontes Media

All Sides

Media Bias/Fact Check

The Woodbridge Company

Starboard's stake comes amid a time of struggle at the drugmaker, which has begun to cut costs aggressively as demand for its Covid-19 medicines recedes.

CNBC

Roberts family

United States

Activist Starboard Value has $1 billion Pfizer stake, taps former executives for help, sources say

Activist investor Starboard Value has invested approximately $1 billion in Pfizer Inc. This strategic move occurs as the pharmaceutical giant grapples with a downturn in demand for its COVID-19 vaccines and treatments.

Benzinga

New York

Amid Pfizer's Struggles With Declining Demand For COVID-19 Treatments, Activist Investor Starboard Value Invests $1B In Pharma Giant: Report - Pfizer (NYSE:PFE)

Starboard has reached out to former Pfizer CEO Ian Read and ex-finance chief Frank D'Amelio, and both have expressed interest in supporting the activist investor's turnaround efforts, reports said.

IBTimes

IBT Media

Activist Starboard Takes $1 Billion Stake In Pfizer, Seeks Former Execs' Support: Reports

Activist investor Starboard Value has taken a stake of about $1 billion in Pfizer Inc. and is seeking to spur a turnaround of the struggling pharmaceuticals giant, according to a person familiar with the matter.

Bloomberg

Michael Bloomberg

The Vanguard Group

Howard Buffett

BlackRock

Activist Starboard Value Takes $1 Billion Stake in Pfizer

An activist investor has taken a stake in Pfizer.Kamil Krzaczynski/AFP via Getty ImagesStarboard Value has taken a stake in Pfizer, people familiar with the matter said.The drug giant's stock price has dropped significantly since its COVID-19 vaccine rollout.Starboard's stake in Pfizer is reportedly worth about $1 billion.Starboard Value has its next target: pharma giant Pfizer.The activist investor has informed Pfizer that it has taken a signif…

Business Insider

Activist investor Starboard has informed Pfizer it has taken a stake

Pharma giant’s share price has fallen below pre-pandemic levels after shortlived bump from Covid vaccine

Financial Times

Nikkei Inc.

London

Greater London

England

Activist investor Starboard builds $1bn stake in drugmaker Pfizer

Pfizer shares are up in premarket trading in New York after a report from the Wall Street Journal revealed that activist investor Starboard Value has taken a $1 billion stake in the struggling pharmaceutical giant, aiming for a major turnaround. Pfizer’s stock had skyrocketed during the pandemic, driven by new Covid vaccine sales, but with the […]

Zero Hedge

Activist Starboard Reportedly Takes Billion Dollar Stake In Pfizer To Right Sinking Ship  - Nemos News Network

Activist investor Starboard Value has taken a stake of about US$1 billion in Pfizer and is seeking to spur a turnaround of the struggling pharmaceuticals giant, according to a person familiar with the matter.

Business Times

Activist Starboard Value takes US$1 billion stake in Pfizer

(Reuters) -Activist investor Starboard Value has taken a stake of about $1 billion in Pfizer and wants the U.S. drug giant to make changes to improve its performance, sources familiar with the matter said on Sunday. Starboard has also approached Ian Read, a former Pfizer CEO, and Frank D’Amelio, who served as CFO until 2021, and both have expressed interest in helping the activist investor, the sources said. Read was CEO until Albert Bourla took…

Activist Starboard Value has $1 billion Pfizer stake, taps former executives for help, sources say

Coverage Details

Give the gift of Perspective

Bias Distribution

Ownership

Similar News Topics

Similar News Topics