- Starboard Value has built a 4.6% stake in Perrigo (NASDAQ:PRGO), worth nearly $600M, and is urging the firm to refocus on its core business by shedding non-core assets and exploring other alternatives.
- The activist sent Perrigo a letter Sunday criticizing the company for failing to live up to performance targets it set while successfully fending off a $26B takeover offer last year from Mylan.
- Perrigo said in a statement that it would review the letter and it "looks forward to a constructive and productive dialogue with Starboard."