Elliott Management and Starbucks' board of directors engaged in settlement discussions last week to evaluate an activist proposal, according to CNBC's anonymous resources on Monday.
The meeting focused on reviewing the terms of the proposal put forward by Elliott, but as of now, no final decision has been made. The specific concerns the board has about the proposal remain undisclosed. Should the settlement talks reach a successful conclusion, Elliott managing partner Jesse Cohn might join Starbucks' board of directors, the media said.
In mid-July a report mentioned that Elliott Investment Management bought a substantial stake in Starbucks Corporation.
