Jeff Smith stands at a podium in 2015: Heidi Gutman/CNBC/NBCU Photo BankStarboard Value has taken a $1 billion stake in drugmaker Pfizer.The hedge fund, headed by Jeff Smith, has become one of the most feared activist investors.Starboard has doubled its assets over the past decade targeting companies across industries.Pharmaceuticals giant Pfizer got a wake up call Sunday evening when one of Wall Street's most feared activist investors revealed a stake in the company.Starboard Value informed the drugmaker it had taken a position in the firm valued at $1 billion.An activist's aims, whether that's pushing for breakup, M&A, or cost reductions, vary depending on the target.
Meet Jeff Smith, The Hedge-fund Investor Taking On Pfizer
amorrell@businessinsider.com (Alex Morrell), Business Insider
Mon, 10/07/2024 - 4:11pm
Topics: heidi gutman/cnbc/nbcu photo bankstarboard value m&a ian read frank d'amelio ken squire july lazard paul singer elliott carl icahn icahn enterprises dan loeb third point capital).smith cowen group peter feld fortune america longhorn steakhouse wall street journal salesforce ceo marc benioff getty images)brontë wittpenn/san francisco chronicle getty imagesstarboard box celgene match group in august ceo albert bourla covid-19 paxlovid wsj washington-based seagen december 2021.starboard greatest aol ceo tim armstrong microsoft staples federal trade commission john's ceo business insider smith starboard value starboard pfizer jeff wall street starbucks garden read monitor elliott management office depot darden darden restaurants olive salesforce ceo brontë wittpenn/san francisco chronicle bristol-myers squibb investor company billion activist hedge fund stake including doubled stock record owner campaigns revenues software targets replaced campaign year cut giant companies feared seats assets drugmaker executives proxy report margins costs improve corporate million cutting cancer merger chairman pandemic credited price years entire cost share firm secured shares decade market lost battle time reached high all-time annual gained reputation
BING NEWS:
- Meet Jeff Smith, the hedge-fund investor taking on Pfizer
Starboard Value's Jeff Smith has extracted board seats and profits from corporate America — by force if necessary.
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