Shares of Keurig Dr Pepper are trading roughly 2.5% higher in a volume spike midday on Monday, after a report by The Financial Times suggesting activist investor Starboard Value has taken a stake in the company.
The New York-based hedge fund reportedly started building its position after the company announced its €15.7 billion acquisition of European coffee maker JDE Peet’s. The deal has been subject to a lot of criticism.
Starboard has been engaged in private discussions with Keurig Dr Pepper’s management team and board members in recent weeks, the Financial Times reported, citing unnamed sources familiar with the situation.
The size of Starboard’s stake and its specific concerns regarding the JDE Peet’s acquisition have not been disclosed.
source :
https://www.investing.com/news/stock-market-news/keurig-dr-pepper-gains-amid-starboard-value-reportedly-taking-stake-4284425
