https://www.cnbc.com/2024/09/30/cvs-activist-glenview-karen-ly--h.html
5 replies (most recent on top)
Activist investors have forced CEO changes in other places and deep cost cuts and restructuring at other places. Only they know their motives and KL will know them tomorrow.
Basically Glenview Capital owns $700 million in CVS Stock and is meeting with KL tomorrow to propose “operational changes” to the company. Glenview has the ability to essentially say “We are taking our $700 million and leaving if our demands are not met.”
They also have their hands in butterfly network as of August 29th, which laid off a mass amount of their workers this year already. Could be nothing, could be someone who goes for vulnerable companies.
Could be something, could be nothing. Basically a super rich guy overseeing a hedge fund thinks the company isn’t being run/organized efficiently and has ideas about what he’d do different. He bought a bunch of shares hoping to convince either company management or enough other shareholders that his vision for the company is correct.
Can someone explain this- are we fcked?