News

# GlaxoSmithKline shares surge on report Elliott Management building a stake

Table of Contents

#
GlaxoSmithKline shares surge on report Elliott Management building a stake

Shares of U.K. pharmaceutical GlaxoSmithKline surged on Thursday, after a report said that activist investor Elliott Management has built a stake.

Glaxo
GSK,
+5.80%

GSK,
+0.25%
shares rose as much as 8%, as the Financial Times said the fund has built a “significant” position in the company, which has struggled under the direction of Chief Executive Emma Walmsley. Glaxo is due to separate its consumer health business from its pharma and vaccine division.

The FT report said some investors want Walmsley to head the consumer health business, given her experience running the consumer health operations, rather than the pharma business, which is the current plan. Neither company commented, according to the FT report.

The Glaxo news helped the FTSE 100
UKX,
+0.49%
extend gains, rising 0.4% to reach a 52-week high. The U.K. benchmark has climbed 26% from its late October lows.

If you liked the article, do not forget to share it with your friends. Follow us on Google News too, click on the star and choose us from your favorites.

For forums sites go to Forum.BuradaBiliyorum.Com

If you want to read more News articles, you can visit our News category.

Source

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close

Please allow ads on our site

Please consider supporting us by disabling your ad blocker!