Hedge Funds

Gsk Climbs 6% On Report Of Elliot Management's Multibillion Stake | Markets Insider

by markets.businessinsider.com posted 5months ago 32 views
Summary List PlacementShares of GlaxoSmithKline rose 6% on Thursday after reports of hedge fund Elliott Management taking a multi-billion pound stake at the British pharmaceutical firm. GSK rose to a high of $38.24, its highest price since January 28. It was last at $38.04 around 10:22 a.m. ET, up around 5.3%. The "significant" investment was confirmed by exclusive sources to the Financial Times Thursday. Elliott, the $42 billion hedge fund known for its activist campaigns, enters the picture at a time when GSK is struggling to overcome a bruised reputation.

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