🧵 1. Major CVS shareholder, Glenview Capital, plans activist push with proposed fixes for struggling business. Company meeting with management. #business
🧵 1. Major CVS shareholder, Glenview Capital, plans activist push with proposed fixes for struggling business. Company meeting with management. #business
🧵 2. Glenview has sizable position in CVS. Specific details of proposed fixes not disclosed. Investor confidence down after year-to-date share decline.
🧵 3. Previous activist funds like Sachem Head and Starboard Value engaged with CVS leadership. Company's insurance segment impacted by rising medical costs.
🧵 4. CVS's insurance unit includes Aetna plans for ACA, Medicare Advantage, Medicaid, dental, and vision. Recent leadership shakeup in response to performance.
🧵 5. Pressure on CVS retail pharmacy business due to declining drug reimbursement rates. Company facing challenges in both insurance and retail segments.
🧵 Read more at: https://www.cnbc.com/2024/09/30/cvs-activist-glenview-karen-lynch.html