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Investing.com-- Activist investor Jana Partners has built a stake in medical devices maker Cooper Companies Inc (NASDAQ:COO) and plans to push for strategic changes including a potential deal to combine its contact lens unit with rival Bausch+Lomb, the Wall Street Journal reported on Sunday.
The WSJ reported that Bausch CEO already supported such an idea.
The size of Jana’s stake in Cooper was not immediately clear. The activist plans to push Cooper into making other changes to raise share prices, including better capital allocation and returns, the WSJ reported, citing people familiar with the matter.
Cooper has lagged its peers this year, with the contacts maker’s shares trading down 20% so far in 2025, at a market capitalization of $14 billion.
Jana had earlier this year overseen an acquisition of Frontier Communications by larger teleco Verizon, and has also pushed for a review by Markel.