An activist investor has taken a big stake in Centene and wants the managed-care company to refresh its board and take other actions to boost its stock, according to people familiar with the matter, The Wall Street Journal reports.
Politan Capital Management, a newly established hedge fund led by veteran activist Quentin Koffey, has a roughly $900 million stake in Centene and has spoken to the company about replacing several board members, the people said. It couldn’t be learned if Centene is receptive. Read more.
