Starboard Value has a stake in Starbucks and wants the company to take steps to boost its stock price, Lauren Thomas of Wall Street Journal reports, citing people familiar with the matter. The size of the hedge fund’s stake and its exact demands couldn’t be learned, the Journal adds. The journalist adds that Starboard’s stake comes as Starbucks is in talks to reach settlement agreement with another activist, Elliott Investment Management. Shares of Starbucks are up 3% to $77.39 in after-hours trading.
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