KKR (KKR) has taken a large stake in Henry Schein (HSIC) and plans to announce a deal that includes increasing that stake to 12% with the option to buy up to 2.9% more in the future, The Wall Street Journal’s Miriam Gottfried and Lauren Thomas report, citing people familiar with the matter. The private equity firm plans to work with the medical and dental supply company to improve its operations, while Henry Schein has agreed to give KKR two board seats, the people say. The company has also been the subject of an activist campaign by Ananym Capital Management, which had plans to nominate up to a half-dozen directors and is pushing for a new CEO and for the company to rein in its expenses, people say.
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