GlaxoSmithKline stock rose Thursday when activist hedge fund Elliott Management was found to have built a multi-billion dollar stake in the drug company.
According to the Financial Times, in which a person with knowledge of the investment the stake received is « substantial ».
Glaxo announced last February that it was planning a split into two business areas: Biopharma and Consumer Health.
The FT said one person « with the The mood of some GSK shareholders is familiar, « suggested that investors would rather the managing director Emma Walmsley – who has no scientific background – run the consumer health business as planned rather than the split-off pharmaceuticals business.
Ref: https://www.sharecast.com
