November 25, 2019 / 10:27 PM / 2 months ago

Activist investor Starboard takes stake in CVS: WSJ

FILE PHOTO: A logo of CVS Health is displayed on a monitor above the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., December 5, 2017. REUTERS/Lucas Jackson

(Reuters) - Activist investor Starboard Value LP has taken a stake in CVS Health Corp (CVS.N) and held talks with the drugstore chain’s management, the Wall Street Journal reported on Monday, citing people familiar with the matter.

The stake appears to be relatively small and the talks, held recently, are amicable, the WSJ reported.

How much Starboard currently owns and what it has discussed with the company could not be learned, according to the report.

CVS Health, which completed its purchase of Aetna in 2018, declined to comment, while Starboard did not immediately respond to Reuters’ request for comment.

Reporting by Trisha Roy in Bengaluru; Editing by Anil D'Silva

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