Elanco Targeted by Sachem Head in Activist’s Biggest Bet
(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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