MedAssets +14.4%; Starboard discloses 8.7% stake, calls for changes [Seeking Alpha]
MED ASSETS INC (MDAS)
US:NASDAQ Investor Relations:
newsroom.vizientinc.com/press-release/legacy/medassets-be-acquired-pamplona-capital-management-27-billion
Company Research
Source: Seeking Alpha
Activist Starboard Value, which has called for and obtained big changes at many companies, has disclosed a 5.22M-share (8.7%) stake in MedAssets (NASDAQ: MDAS ). ( 13D filing ) Starboard has sent an open letter (.pdf) to CEO R. Halsey Wise and MedAssets' board. From the 13D: "In the letter, Starboard expressed its belief, among other things, that the Issuer is deeply undervalued relative to the quality of its assets and the earnings power of its core business. Starboard also outlined in the letter a plan to create significant shareholder value by reducing the Issuer’s operating expenses, improving capital allocation, improving corporate governance and exploring all available strategic alternatives ... Starboard also expressed its belief in the letter that if the Issuer were to pursue Starboard’s plan of action, the stock price of the Issuer could be $37-$46 by the end of 2016." The healthcare software/services provider has jumped to $26.99 in AH trading.
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