Flowserve shares jump on reports of Starboard Value stake

Investing.com -- Shares of Flowserve Corporation traded sharply higher on Monday, spiking over 5% after Bloomberg reported that activist investor Starboard Value has taken a stake in the company and is pushing for changes.

According to the report, Starboard Value has built a significant position in Flowserve and is speaking to the industrial company about potential changes. The activist investor and the manufacturer have reportedly been discussing ways Flowserve could expand margins.

The exact size of Starboard's investment could not be learned.

A representative for Flowserve told Bloomberg in a statement: "We regularly engage with shareholders and prospective investors to hear their views and appreciate their perspectives. As a matter of practice, we do not comment on the specifics of our discussions."

You May Also Be Interested In

• SPS Commerce hires Morgan Stanley, explores sale - Reuters
• SpaceX bond sale draws $89 billion in investor demand
• Varonis Systems (VRNS) call put ratio 5.1 calls to 1 put with a focus on July 35, 40 and 45 calls as share price up 9%