Elliott Management Has Large Position in Cardinal Health

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Activist investor Elliott Administration has a big place in Cardinal Well being and is searching for a handful of seats on the medical-products distributor’s board, in response to individuals aware of the matter.

Elliott nominated 5 administrators to the 11-person board roughly two weeks in the past, earlier than Cardinal abruptly replaced its chief executive last week, the individuals mentioned. The Wall Avenue Journal reported final week that activists have been circling Cardinal this yr with a watch towards whether or not administration change might assist enhance the corporate’s share value.

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