Elanco Targeted by Sachem Head in Activist’s Biggest Bet - BNN Bloomberg -BoardProspects

Elanco Targeted by Sachem Head in Activist’s Biggest Bet

BNN Bloomberg Oct 7 2020 BoardNews

(Bloomberg) -- Activist investor Sachem Head Capital Management has made its biggest bet yet, taking a $1.2 billion stake in Elanco Animal Health Inc. to push for changes at the company. The New York-based investment firm, which owns a 9.1% stake in Elanco in stock and options, believes the company is undervalued and underperforming its competitors, including its larger rival Zoetis Inc., according to people familiar with the matter...
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1. We are aware of the investment by Sachem Head. The Elanco board and leadership team are committed to continuing our focus on enhancing value for all shareholders and will continue to take actions to achieve that objective through our clear and proven innovation, portfolio and productivity strategy.
Topics Mentioned
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- Management
- acquisition
- Bloomberg
- Bill Ackman
- Square
- Pershing Square Capital Management
- Bayer
- Eli Lilly
- Activist
- Scott Ferguson
- Olin
- Elanco
- Elanco Animal Health
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- Olin Corp.
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