Starboard Value has informed Pfizer it has taken a significant stake, as the drugmaker's stock has fallen sharply since its COVID-19 vaccine rollout highs in 2021.
With Pfizer's stock dropping significantly since the peak during its COVID-19 vaccine success, Starboard sees an opportunity for potential value increase through active management.
Starboard Value has made a name for itself in recent months, taking notable stakes in companies like Starbucks and Match Group, pushing for structural changes.
The activist investor managed $8.5 billion in assets and has previously pushed for a breakup in other holdings like Rupert Murdoch's News Corp.
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