Starboard Issues Statement Regarding the Opportunity to Maximize Value at Abcam

Rhea-AI Summary

Starboard Value, a significant shareholder of Abcam, supports the Company running a full sale process to maximize value. They believe there is significant value in Abcam and are supportive of Dr. Milner's decision to temporarily suspend his campaign.

Positive

• Starboard Value believes there is significant value in Abcam and supports a full sale process to maximize value for shareholders.

Negative

• None.

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

NEW YORK--(BUSINESS WIRE)-- 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230626128947/en/

For Investors:

Gavin Molinelli, (212) 201-4828

Patrick Sullivan, (212) 845-7947

Source: Starboard Value LP

FAQ

What is Starboard Value's stance on Abcam's sale process?

Starboard Value supports a full sale process to maximize value for shareholders.

What is Dr. Milner's decision regarding his campaign?

Dr. Milner has temporarily suspended his campaign to allow the Board of Directors to review strategic alternatives.