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Starboard Agreement Tilts Perrigo Toward Rx Generics Sale

 
• By Malcolm Spicer

OTC private label giant agrees with Starboard, which owns around 6.7% of Perrigo's shares, to immediately add to Perrigo's board Starboard CEO Jeffrey Smith and two other members recommended by the hedge fund: former Pfizer CEO Jeffrey Kindler and Nestle USA executive Bradley Alford.

businessman and businesswoman are shaking hands and exchanging folder after agreement was reached

The likelihood grows that Perrigo Co. PLC will find a buyer for its Rx generic specialty topicals business as investor Starboard Value LP gains five seats on the firm's board after pressing for the sale.

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