Reuters exclusively reports Starboard target Magellan Health to explore potential sale

Reuters exclusively reported that U.S. healthcare plan and pharmacy benefits manager Magellan Health will explore selling itself. It had come under pressure to do so from activist hedge fund Starboard Value, and shares of Magellan Health rose as much as 12.5 percent on the report. The company is looking for ways to unlock value after its shares dropped nearly 40 percent since April 2018, amid a wave of dealmaking in the healthcare space that continues to put pressure on margins.