Elliott Management Builds Significant Stake in GSK -FT
--Hedge fund Elliott Management Corp. has amassed a
multibillion-pound stake in British pharma company GlaxoSmithKline
PLC, the Financial Times reports.
--Elliott's investment comes after shareholders' disappointment
at the leadership of CEO Dame Emma Walmsley, who is breaking up the
company starting next year by separating the consumer-health
business and the vaccine division, according to the FT.
--GSK management is also being blamed for underperforming peers
and lagging in the race to develop a Covid-19 vaccine, the FT
--GSK shares are up 64.2 pence, or 5%, at 1,353.8 pence.
Full story: https://on.ft.com/3uK3MjU
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(END) Dow Jones Newswires
April 15, 2021 09:06 ET (13:06 GMT)
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