Starboard Value LP, which has about a 4.6% stake in Perrigo Co., is urging the drug company to refocus on its core business.
According to a WSJ article, the shareholder sent Perrigo a letter criticizing the company for not living up to performance targets it set while avoiding a $26 billion takeover offer last year from Mylan. Starboard said Perrigo management has been distracted by the merger fight.
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