12:01 PM EDT, 10/09/2024 (MT Newswires) -- Pfizer ( PFE ) Chief Executive Albert Bourla plans to meet with certain executives of activist investor Starboard Value next week, the Financial Times reported Tuesday, citing unnamed sources.

Bourla is expected to be accompanied by Pfizer's ( PFE ) lead independent director Shantanu Narayen at the meeting with Starboard CEO Jeff Smith and partner Patrick Sullivan, who runs its health care investments, according to the report.

The meeting will be held after it emerged this weekend that Starboard had taken a $1 billion stake or about 0.6% of Pfizer ( PFE ), the report said.

Pfizer ( PFE ) declined to comment to MT Newswires, while Starboard didn't immediately respond to a request for comment.

Pfizer ( PFE ) shares were up 3.7% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 30.26, Change: +1.08, Percent Change: +3.68