Elliott Management Ups Stake In Celesio To 24.08 Percent

Hedge fund Elliott Management has increased its voting stake in German drug distributor Celesio AG (ETR:CLS1) (FRA:CLS1) to 24.08%.

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Elliott Management disclosed its enhanced stake in Celesio AG (ETR:CLS1) (FRA:CLS1) in its regulatory filings to the Frankfurt Stock Exchange on Monday.

Celesio plunged after McKesson’s bid fails

As reported earlier, the shares of Celesio AG (ETR:CLS1) (FRA:CLS1) declined after McKesson Corporation (NYSE:MCK)’s bid to acquire the company failed to gain enough support from shareholders.  McKesson Corporation gained support from shareholders who...