Could Merck Become an Activist Target? One Hedge Fund Thinks So

Suvretta Capital Management — which is not an activist investor — lays out the case in its second quarter letter.

(Daniel Acker/Bloomberg)

(Daniel Acker/Bloomberg)

Is Merck an attractive target for activists?

At least one hedge fund firm thinks so.

In its second-quarter letter, dated August 17 and obtained by Institutional Investor, Suvretta Capital Management — which is not an activist hedge fund — makes the case for the drug giant winding up in the cross-hairs of the activist set as part of its investment thesis for the stock.

“We

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