Pfizer (PFE) activist investor Starboard Value did not nominate any directors to the drugmaker's board ahead of its annual meeting in April, Bloomberg reported Monday, citing people familiar with the matter.
The development offers temporary relief to Pfizer amid concerns raised by Starboard regarding acquisitions and investments, according to the report.
But Starboard, which acquired a roughly $1 billion stake in Pfizer last year, could push for board changes in 2026 if they fail to reach a prior settlement agreement, the report said.
Neither Pfizer nor Starboard immediately replied to MT Newswires' requests for comment.
Shares of Pfizer were up more than 2% in recent trading.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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