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Activist investor Elliott hikes stake in UK's Clinigen

By Reuters

– Activist investor Elliott Management has further raised its stake in pharmaceutical services group and takeover target Clinigen Group Plc, a filing showed on Thursday.

Elliott has increased its stake to 10.67% in the company, which on Wednesday agreed to be bought by UK-based Triton Investment Management in a deal valuing it at about 1.2 billion pounds ($1.58 billion).

Elliott, the company’s biggest shareholder, had a 7.61% stake as of Nov. 10, according to Refinitiv Eikon.

($1 = 0.7574 pounds)