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Starboard Takes Stake in Data Center Business Vertiv

  • Shares of firm that went public via SPAC are down 54% in 2022
  • Activist expected to push for operational improvements
Updated on

Starboard Value has built a sizable position in Vertiv Holdings Co., as another company that went public via a blank-check deal becomes a target for activism. 

Starboard disclosed a 7.4% stake in the supplier of equipment and services for data centers in a regulatory filing Thursday, confirming an earlier report by Bloomberg News. The firm said in the filing that it believed the company was undervalued.