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Activist investor Starboard has amassed a greater than 5% stake in contract-research group Fortrea Holdings (NASDAQ:FTRE).
The activist investor is predicted to push for modifications on the firm that might increase its margins, in line with a WSJ report that cited folks accustomed to the matter. The stake is predicted to be disclosed in a regulatory submitting on Tuesday.
Fortrea (FTRE), which was not too long ago spun off from Laboratory Corp. (LH), has a market cap of $2.6 billion. Labcorp spun out Fortrea as an unbiased contract analysis group on June 30.
Information of the Fortrea (FTRE) stake comes as Starboard founder and CEO Jeff Smith is predicted to current on the 13D Monitor Energetic-Passive Investor Summit on Tuesday. He’s prone to talk about the Fortrea stake.
On Friday Reuters reported that Starboard took a stake in Information Corp.
Extra on Fortrea Holdings
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