GlaxoSmithKline Stock – GlaxoSmithKline Isn’t Being Pressured Into Sale by Elliott -The Times

–GlaxoSmithKline PLC won’t be pushed into a sale of its vaccines and pharmaceuticals business by activist U.S. hedge fund Elliott Management, The Times of London reports.

–Elliott isn’t planning to agitate for reducing the pharmaceutical giant’s 5 billion-pound ($7.06 billion) research and development budget and will back GlaxoSmithKline staying in the UK., The Times says.

–Speculation had been raised by investors and analysts over Elliott’s intentions after it was discovered in April that the activist fund had acquired a multi-billion pound stake in the company, The Times reports.

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05-27-21 0126ET