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Starboard Takes Stake In CVS Heath

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Starboard Takes Stake In CVS Heath

On Tuesday, The Wall Street Journal reported activist investor Starboard Value LP has taken a stake in CVS Health Corp (NYSE: CVS) and has been holding talks with the drugstore.

It's unknown how much Starboard currently owns of CVS.

See Also: CVS Health Reports Q3 Earnings Beat, Raises Guidance

One year ago, CVS acquired health insurer Aetna for nearly $70 billion. The deal made CVS’s drugstore network and pharmacy-benefit manager one of the country's largest health insurers.

CVS Health shares traded down 1.4% at $75.47. The stock has a 52-week high of $81.65 and a 52-week low of $51.72.

Photo courtesy of CVS Health.

 

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Posted-In: Aetna Starboard Value LPNews Hedge Funds General

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