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Magellan Health adds four Starboard directors in settlement, forms strategic committee

( March 29, 2019, 14:12 GMT | Official Statement) -- MLex summary: Magellan Health has reached a settlement agreement with activist fund Starboard Value under which four of the fund's director nominees will join the board of the behavioral health company. They include Peter Feld, Managing Member of Starboard and Steven Shulman, former Chairman and CEO of Magellan Health, according to a statement. Magellan will also form a "strategic committee" headed by Mr. Feld. On Feb 22, Starboard nominated six directors to the board of Magellan, calling on the board to consider a sale of the company in part or in whole.Full statement follows....

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