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By Reuters Staff
2 Min Read
(Reuters) - Hedge fund Starboard Value LP has taken a stake in Elanco Animal Health Inc and nominated three directors to the animal healthcare company’s board, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The WSJ report did not mention the size of Starboard s stake in Elanco, which makes treatments for pets and livestock and has a market value of about $15.27 billion, as per Refinitiv data. (on.wsj.com/30d8EAA)
Elanco did not immediately respond to a Reuters request for comment.
Starboard is the second activist investor to show interest in Elanco recently, after Sachem Head Capital Management LP last year made a roughly $1.2 billion bet on the company and added its head Scott Ferguson to Elanco’s board.
By Reuters Staff
2 Min Read
(Reuters) - Hedge fund Starboard Value LP has taken a stake in Elanco Animal Health Inc and nominated three directors to the animal healthcare company’s board, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The WSJ report did not mention the size of Starboard s stake in Elanco, which makes treatments for pets and livestock and has a market value of about $15.27 billion, as per Refinitiv data. (on.wsj.com/30d8EAA)
Elanco did not immediately respond to a Reuters request for comment.
Starboard is the second activist investor to show interest in Elanco recently, after Sachem Head Capital Management LP last year made a roughly $1.2 billion bet on the company and added its head Scott Ferguson to Elanco’s board.
(photo courtesy of Elanco Animal Health)
by: Wes Mills, Inside INdiana Business
Posted:
Feb 24, 2021 / 04:52 PM EST
GREENFIELD, Ind. (Inside INdiana Business) Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) is reporting a full-year net loss of $560 million in 2020, compared to net income of $67.9 million the previous year. Despite the drop, Elanco President and Chief Executive Officer Jeff Simmons say the company is entering 2021 “with good momentum.”
The company is also reporting a fourth-quarter loss of nearly $323 million, compared to a loss of $9.5 million during the same period a year ago.
“Fourth quarter revenue surpassed our guidance as U.S. Pet Health, U.S. Farm Animal, and China swine outperformed our expectations,” said Simmons.
LIVESTOCK HIGHLIGHTS: Top Stories of the Day
02/24/2021 | 05:46pm EDT
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Message : Farmers Ask for Extension in Applying for Covid Relief Market Talk 12:13 ET - In the wake of bitter cold temperatures descending on farmlands across the country, the American Farm Bureau is asking the federal government to extend the deadline for applying for the Coronavirus Food Assistance Program, which would supply farmers $13B in aid. The current deadline is this Friday, February 26, but recent severe weather and the suspension of CFAP payments led to challenges and confusion surrounding the application process, says Farm Bureau president Zippy Duvall in a letter addressed to Agriculture Secretary Tom Vilsack. (kirk.maltais@wsj.com, @kirkmaltais)