Activist investor Starboard builds stake in Keurig Dr Pepper, FT reports

Starboard Value has taken a stake in Keurig Dr Pepper (KDP) after the company’s unpopular EUR 15.7B bid for JDE Peet’s (JDEPF) sent its shares tumbling, and has since been in private talks with KDP’s management and board, sources tell The Financial Times, Oliver Barnes, Amelia Pollard, and James Fontanella-Khan report. While the exact size of Starboard’s stake in KDP and its demands of the company could not immediately be learned, Starboard’s discussions with KDP had so far focused on improving execution and restoring investor confidence, rather than the threat of a public campaign, the sources say.