How to Repel Elliott? Undo a $40 Billion Discount May 12 2021, 4:12 AM May 11 2021, 1:40 PM May 12 2021, 4:12 AM (Bloomberg Opinion) -- Doing a big demerger is an expensive and time-consuming exercise that underperforming companies often pursue in the hope of deterring a shareholder activist. This hasnât prevented GlaxoSmithKline Plc from attracting the attention of activist-in-chief Elliott Management Corp. That begs the question of what more the U.K. drugmaker should be doing. (Bloomberg Opinion) -- Doing a big demerger is an expensive and time-consuming exercise that underperforming companies often pursue in the hope of deterring a shareholder activist. This hasnât prevented GlaxoSmithKline Plc from attracting the attention of activist-in-chief Elliott Management Corp. That begs the question of what more the U.K. drugmaker should be doing.