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News in English (USA) / 10.10.2024 / 21:00

Activist Investor Starboard Takes Significant Stake in Pfizer Amid Board Disputes

The ongoing battle between Pfizer and activist investor Starboard Value has intensified as Starboard recently acquired a $1 billion stake in the pharmaceutical giant. This move comes amidst allegations from Starboard that Pfizer has pressured former executives not to support its campaign. Support for Pfizer's CEO, Albert Bourla, has emerged from ex-executives Ian Read and Frank D'Amelio, who have distanced themselves from Starboard’s efforts. In response to this turmoil, Pfizer's stock has been highly volatile, experiencing both a dip and a surge as news breaks of Starboard's actions. The situation has prompted further scrutiny of Pfizer's management and future direction as the company navigates these challenges.
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