Catalent Inc is close to reaching a settlement with activist investor Elliott Investment Management which will include new directors and a pledge to review strategic alternatives such as the sale of the company, sources familiar with the matter said on Monday.
is close to reaching a settlement with activist investor Elliott Investment Management which will include new directors and a pledge to review strategic alternatives such as the sale of the company, sources familiar with the matter said on Monday.
The sources declined to be identified because the information is confidential and cautioned a deal could still collapse at the last minute.The stock price jumped 8% in after hours trading before giving up some of the gains after closing at $45.65 on Monday. Catalent, which is valued at roughly $8 billion and played a critical role during the pandemic to fill vials with the COVID-19 vaccine for several companies including AstraZeneca, Johnson & Johnson and Moderna, has grappled with a variety of problems recently.“productivity issues” and higher-than-expected costs at three of its manufacturing sites would hit fiscal 2023 results.
Despite Catalent’s operational and regulatory problems, several investors said there is value in the company given its role in meeting big pharma companies' demand for outsourced manufacturing.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Exclusive-Catalent nears settlement with Elliott for board seats -sources By ReutersExclusive-Catalent nears settlement with Elliott for board seats -sources
Baca lebih lajut »
Buescher wins at Daytona, eliminating Elliott and helping Wallace land final NASCAR playoff berthChris Buescher won the NASCAR Cup Series regular-season finale at Daytona International Speedway, eliminating fan favorite Chase Elliott from the playoffs and sending Bubba Wallace into the postseason.
Baca lebih lajut »
NASCAR Most Popular Driver Chase Elliott Misses Playoffs for First Time in Cup CareerThe 2020 NASCAR Cup champion finished fourth at Daytona on Saturday night, but needed a win to get in.
Baca lebih lajut »
Football: Jack Elliott, Mount Carmel hold off East St. LouisJack Elliott's drive was huge for the Caravan in a 36-33 win over nationally ranked East St. Louis in front of an estimated crowd of 3,500.
Baca lebih lajut »
Iron Studios Debuts Deluxe Monsters Inc. Diorama Statue for Disney100Iron Studios is back with a new assortment of delightful 1/10 Art Scale statues including some love for Monsters Inc.
Baca lebih lajut »
Tesla Inc. stock rises Monday, still underperforms marketShares of Tesla Inc. inched 0.10% higher to $238.82 Monday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ...
Baca lebih lajut »