Activist investment firm JanaPartners has nominated directors to the board of life sciencescompany Laboratory Corp of America Holdings, includingEdwin "Mac" Crawford, who has a reputation for turning aroundstruggling companies, sources familiar with the matter said onTuesday.
Jana Partners bought 811,661 shares in Labcorp late lastyear. News that it has engaged with the company and nominateddirectors sent the company's share price higher on Tuesday.
The stock climbed as much as 3% but then lost some ground totrade at $246.63 in early afternoon.
Jana declined to comment.
Crawford, a former chairman of CVS Caremark, has teamed upwith Jana Partners in the past and took a board seat at TeamHealth Holdings along with a partner from Jana in 2016.
Bloomberg first reported that Jana had nominated directorsat Labcorp.
The company did not immediately respond to requests forcomment.
https://finance.yahoo.com/finance/news/jana-partners-nominates-directors-labcorp-182607016.html
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