Starboard Value Targets Beaten-Down Perrigo (PRGO) - WSJ

September 12, 2016 6:05 AM EDT

Get the Pulse of the Market with's Pulse Picks. Get your Free Trial here.

Activist hedge fund Starboard Value has taken a 4.6% stake in Perrigo (NYSE: PRGO) and is urging the company to refocus on its core business, the Wall Street Journal reported overnight.

Starboard has sent a letter criticizing the company for unsuccessfully living up to its performance targets it set while fending off Mylan's (NYSE: MYL) $26 billion takeover attempt last year.

Shares of PRGO are down over 50% over the past year.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

13Ds, Hedge Funds, Hot Hedge Fund News, Rumors, Trader Talk

Related Entities

Starboard Value

Add Your Comment