ALLEGAN, MICH. - An activist investor group has bought a stake in Allegan-based drugmaker Perrigo and is pushing the company to shake up its business.
Starboard Value recently purchased nearly 5 percent of Perrigo. Starboard's executives say the company's performance has been poor and that it needs to make changes to create value for shareholders.
Perrigo shares have fallen sharply since it rejected a takeover bid from rival Mylan, and Starboard says plans to improve the company on its own did not pan out.
(© 2016 WZZM)