Activist investor Elliott takes big stake in drugmaker Catalent – WSJ

(Reuters) – Activist investor Elliott Investment has built a significant stake in Catalent (NYSE:) and is pushing for a shake-up on the contract drug manufacturer’s board, the Wall Street Journal reported on Wednesday.

Elliott has been talking to potential director candidates about joining a slate of nominees to run in a proxy contest, WSJ said, citing people familiar with the matter.

The exact size of Elliott’s stake in Catalent could not be learned, WSJ added. Catalent has a market capitalization of $8.35 billion.

Elliott and Catalent did not immediately respond to Reuters requests for comment.