Starboard Divests Mellanox Stake Ahead of Deal Completion
On Monday, Nvidia announced an acquisition agreement to buy Mellanox for $6.9 billion. On Tuesday, Starboard revealed it has sold its remaining stake
Starboard acquired a 10.7% stake in Mellanox in November 2017 at $47 per share, paying in total around $250 million. The fund quickly started a campaign against Mellanox's administration and board, citing mismanagement. The two reached a settlement in June 2018, leading Starboard to reduce its stake in Mellanox to 5.8%.