Starboard’s Jeffrey Smith Goes Further With Smithfield Fight

The New York–based activist investor has not only urged the company to find a better buyer, he’s taken the liberty of finding some himself.

It is one thing for an activist investor to oppose a merger deal and push for another bidder and a higher price. It is more unusual for an activist to actually go out and find a better competing deal.

But this is exactly what Jeffrey Smith — a co-founder and the chief executive and chief investment officer of New York activist hedge fund firm Starboard Value — has apparently done.

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