01:56 PM EDT, 10/13/2025 (MT Newswires) -- Activist investor Starboard Value built a stake in Keurig Dr Pepper ( KDP ) following the beverage company's bid for JDE Peet's, the Financial Times reported Monday, citing people briefed on the matter.

The activist investor began buying shares after the August deal announcement and has been in private talks with Keurig Dr Pepper's ( KDP ) board and management in recent weeks, the report said.

The JDE Peet's transaction is not subject to a shareholder vote, limiting Starboard's ability to block it, the report said.

Keurig Dr Pepper ( KDP ) and Starboard did not immediately respond to requests for comment from MT Newswires.

Shares of Keurig Dr Pepper ( KDP ) rose 3% 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.)

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