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Starboard Takes Stake in Mercury Systems, Targets Poison Pill

Activist investor Starboard Value disclosed a position in Mercury System Inc. and urged it eliminate or revise its poison pill, ratcheting up the pressure on the U.S. defense electronics manufacturer, which is already facing calls to explore a sale. 

Starboard said in a letter to Mercury’s board Thursday that it owned a 7.3% stake in the company, and urged it to eliminate its shareholder rights plan, which makes it difficult for anyone to build a large stake in the company.