Activist watch

Elliott Management, “one of the world’s most feared activist investors”, is pushing UK healthcare company Clinigen to explore a radical break-up, says Sky News. Elliott announced last week it owned over 5% of Clinigen, sending the share price up 7.5%. Clinigen and Elliott held talks over the summer about the possibility of the firm disposing of its pharmaceutical services division and Elliott is expected to keep pressing for a sale, including a potential “hostile” campaign to force the board to act, sources told Sky. Clinigen issued a profit warning in June due to delays on clinical trials and disruption to oncology treatments. Its shares “have trod water” over the last year, despite rivals such as UDG Healthcare having attracted bids from private equity.