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Starboard Issues Statement Regarding the Opportunity to Maximize Value at Abcam

June 26, 2023 at 18:00 PM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Believes the Board of Directors is Taking the Right Step by Commencing a Review of Strategic Alternatives, Including a Potentially Value-Maximizing Sale

Supports Founder Dr. Jonathan Milner’s Decision to Temporarily Suspend His Campaign as Options are Reviewed

Starboard Value LP (together with its affiliates, “Starboard” or “we”), a significant shareholder of Abcam plc (“Abcam” or the “Company”) (Nasdaq: ABCM), today issued the following statement:

“We believe there is significant value in Abcam and are supportive of the Company running a full sale process to maximize value for all shareholders. We are supportive of Dr. Milner’s stated plan to temporarily suspend his solicitation to allow Abcam’s Board of Directors to run a comprehensive review of strategic alternatives. If the Company is unable to complete a transaction, we agree that substantial change will be warranted.”

About Starboard Value LP

Starboard Value LP is a New York-based investment adviser with a focused and differentiated fundamental approach to investing primarily in publicly traded U.S. companies. Starboard seeks to invest in deeply undervalued companies and actively engage with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders. Learn more at www.starboardvalue.com.