Perrigo (PRGO) Looks Forward to 'Constructive and Productive' Dialogue with Starboard
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Activist Starboard demands rapid changes at Perrigo
September 12, 2016 7:16 AM EDTBy Michael Flaherty
NEW YORK (Reuters) - Activist shareholder Starboard Value LP on Monday disclosed a 4.6 percent stake in Perrigo Co Plc (NYSE: PRGO) and said the Dublin-based drugmaker must make immediate improvements to turn around its sagging stock price.
Shares of Perrigo, whose market capitalization is around $13 billion, surged 7.3 percent to $95.15 in midday trading.
The hedge fund delivered a scathing letter to Perrigo's chief executive officer, John Hendrickson, and its board on Monday, criticizing their performance since the company spurned a seven-month takeover effort by generic drug maker Mylan NV (NASDAQ:... More
Starboard Value Confirms 4.6% Stake in Perrigo (PRGO)
September 12, 2016 6:54 AM EDTStarboard Value confirmed a 4.6% ownership stake in Perrigo Company plc (NYSE: PRGO), making it one of the Company's largest shareholders. Starboard also announced that it has delivered a letter to Perrigo's Chief Executive Officer, John Hendrickson, and the Company's Board of Directors.
The full text of the letter follows and may also be viewed by clicking the following link: http://www.starboardvalue.com/wp-content/uploads/Starboard-Value-Delivers-Letter-to-Perrigo-Company-plc-CEO.pdf
September 12, 2016
Perrigo Company plcTreasury... More
Starboard Value Targets Beaten-Down Perrigo (PRGO) - WSJ
September 12, 2016 6:05 AM EDTActivist 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... More
