Elliott Management Ups Stake In Celesio To 24.08 Percent

Hedge fund Elliott Management has increased its voting stake in German drug distributor Celesio AG (ETR:CLS1) (FRA:CLS1) to 24.08%. Must read- Paul Singer To Warn Of Derivatives Catastrophe Elliott Management disclosed its enhanced stake in Celesio AG (ETR:CLS1) (FRA:CLS1) in its regulatory filings to the Frankfurt Stock Exchange on Monday. Celesio plunged after McKesson’s bid fails As reported earlier, the shares of Celesio AG (ETR:CLS1) (FRA:CLS1) declined after McKesson Corporation (NYSE:MCK)’s bid to acquire the company failed to gain enough support from shareholders.  McKesson Corporation gained support from shareholders who collectively own 72.33% of the shares of Celesio AG, slightly short of the…