(CNBC) Activist investor Starboard Value has a roughly $1 billion stake in pharmaceutical giant Pfizer and is seeking to mount a turnaround at the struggling company, according to people familiar with the matter. The activist’s exact plans could not be learned, but Starboard has approached former Pfizer CEO Ian Read and ex-finance chief Frank D’Amelio, both of whom have expressed interest in supporting Starboard’s turnaround, said the people.
Activist Starboard Value has $1 billion Pfizer stake, taps former executives for help
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