Starboard Value reaches agreement with Fortrea Holdings (FTRE)
Key Summary: Starboard Value, owning a 5% stake, announced on October 17, 2023, plans to drive margin improvements and enhance shareholder value, highlighting the company's attractive valuation compared to peers. They suggested a substantial upside potential of approximately 60% to 144% in share price. As of January 31, 2025, Starboard Value is considering director nominations, indicating ongoing strategic evaluation. On February 21, 2025, the company announced the appointment of Erin L. Russell as an independent member of its Board. This appointment follows a cooperation agreement with Starboard
Market Cap: $1.3 billion| Fortrea Holdings Inc. provides clinical development and patient access solutions to the life sciences industry.
- On October 17, 2023, Starboard Value (5%) announced its plans to push for changes that could boost margins among other initiatives aimed at share-price appreciation. It stated that the company trades at an attractive valuation relative to peers considering the margin improvement potential. Also, it opines that there is significant share price ~60% to ~144% upside potential at the company. Source
- On January 31, 2025, Starboard Value stated that it is currently evaluating whether to nominate directors.
- On February 21, 2025, the company announced the appointment of Erin L. Russell as an independent member of its Board. This appointment follows a cooperation agreement with Starboard
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