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Activist investor Starboard Worth has taken a stake in UK-based biotech agency Abcam plc (NASDAQ:ABCM).
Starboard Worth, led by Jeff Smith, took a stake of about 2% in Abcam (ABCM), in accordance with a Sunday Instances report.
The disclosure comes as Jonathan Milner, founding father of Abcam (ABCM) and a former director of the corporate with a 6.3% stake within the biotech agency, final month mentioned he plans to name for a unprecedented normal assembly to try to win election to the board as govt chairman.
Milner can be calling for 3 of Abcam’s board members to be ousted in a letter to traders anticipated to be printed on Sunday, in accordance with the Instances report on Saturday.
An Abcam (ABCM) spokesman reiterated to the Sunday Instances that the corporate provided a board seat to Milner.
“We’ve labored tirelessly and constructively with Dr. Milner, together with providing him a seat on the board,'” the Abcam spokesman informed the paper. “He needs to regain management of an organization he has not been an govt director of for 9 years.”
Starboard Worth, referred to as one of many greatest activist traders within the U.S., has taken stakes in Salesforce (CRM), Splunk (SPLK) and Wix.com (WIX) previously yr.
