- Investment firm Elliott Management has taken a large position in Cardinal Health ( NYSE: CAH ) and has nominated five directors for the drug wholesaler's board, The Wall Street Journal reported.
- The five directors from the firm known for activist investing were nominated about two weeks ago, prior to the recent announcement that CEO Mike Kaufmann was stepping down Sept. 1. The deadline to nominate directors was August 7.
- The newspaper said that some analysts have suggested that Cardinal ( CAH ) could seek strategic alternatives, including breaking up or selling its medical business.
- Elliott has lobbied for changes at other healthcare companies, notably GlaxoSmithKline ( GSK ) last year.
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Cardinal Health sees large investment from Elliott; nominates five directors - WSJ