Elliott Management Has Large Position in Cardinal Health

Activist investor Elliott Management has a big place in Cardinal Health and is looking for a handful of seats on the medical-products distributor’s board, in keeping with individuals conversant in 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 stated. The Wall Street Journal reported final week that activists have been circling Cardinal this yr with a watch towards whether or not administration change may assist enhance the corporate’s share worth.