Hedge fund Starboard Value is living up to its activist billing by disclosing a major position in a new company for the third time this week, according to a report by Bloomberg.
The latest company to attract Starboard's attention is Vertiv Holdings, which went public in February of 2020 after a merger with SPAC GS Acquisition Holdings. Starboard has acquired a 7.4% stake in the digital infrastructure provider and is reportedly seeking 'operational improvements' a the company.
Starboard, which according to a 13D filing began accumulating its position in Vertiv back in August, has reportedly held talks with the company's leadership and is supportive of efforts to improve profitability under Chairman David Cote and incoming CEO Giordano Albertazzi.
Albertazzi has been announced as the successor to incumbent CEO Rob Johnson and as a Director on the Board of Directors on from 1 January, 2023.
Already this week, Starboard has disclosed new positions in Salesforce and Splunk.
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