Major CVS shareholder plans activist push, will meet with management, sources say
Publishing timestamp: 2024-09-30 00:09:10
Summary
Glenview Capital has amassed a sizable stake in CVS Health and plans to meet with the company's top executives to lay out its plan for value creation. The proposal is seen as a precursor to an activist push at the company. CVS has been struggling with higher medical costs in its insurance segment, leading to investor confidence souring. The company has announced plans to cut expenses and close stores, while also implementing layoffs in corporate roles. CVS is facing pressure in both its insurance and retail pharmacy businesses.
Sentiment: MIXED
Keywords: breaking news: business, pharmaceuticals, health insurance, activism, centene corp, health care industry, cvs health corp, business news, teva pharmaceutical industries ltd, breaking news, business, mergers and acquisitions,
Source: https://www.cnbc.com/2024/09/30/cvs-activist-glenview-karen-lynch.html