Starbucks and activist Elliott met last week to discuss settlement, sources say
Publishing timestamp: 2024-08-12 14:35:08
Summary
Activist Elliott Management and Starbucks' board of directors are in settlement talks, with the possibility of Elliott Managing Partner Jesse Cohn becoming a Starbucks director. The proposed deal would allow CEO Laxman Narasimhan to keep his job and include governance improvements. However, the agreement is complicated by opposition from Starbucks Chairman Emeritus Howard Schultz. Elliott has amassed a stake in Starbucks valued at up to $2 billion.
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