Activist investor Jana Partners takes stake in Cooper Cos., WSJ says
Barry Rosenstein, founder of JANA Partners.
Adam Jeffery | CNBC
Cooper Companies Monday
The hedge fund, founded by Barry Rosenstein and known for pressuring companies to make changes that will increase shareholder value, also aims to encourage Cooper to improve the way it allocates capital to boost returns, the Journal said, citing sources familiar with the matter.
CNBC reached out to Jana Partners for comment but did not immediately hear back.
Jana may encourage Cooper to consider merging its contact lens business with rival Bausch + Lomb, the Journal reported.
Cooper recently lowered its full-year revenue outlook in August, citing weak demand in some markets. The stock is down nearly 22% this year.
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