Billionaire Seth Klarman Sells Innoviva Inc. Days After Activist Stakeholder Defeat
Investor Seth Klarman sold 93% of his stake in Innoviva (INVA) April 30, days after the company’s shareholders rejected an activist investor’s slate of board nominees that wanted to overhaul employee compensation.
Sarissa Capital, a Greenwich, Connecticut-based hedge fund focused on health care companies, purchased a 2.72% activist stake in Innoviva over the latter half of 2016. The fund’s leader, Alexander Denner, sharpened his activist skills at Carl Icahn’s Icahn Capital, and worked before that for Andreas Halvorsen’s Viking Global.
Sarissa Capital, a Greenwich, Connecticut-based hedge fund focused on health care companies, purchased a 2.72% activist stake in Innoviva over the latter half of 2016. The fund’s leader, Alexander Denner, sharpened his activist skills at Carl Icahn’s Icahn Capital, and worked before that for Andreas Halvorsen’s Viking Global.