Active Investor Manager Elliott has a great place in Cardinal Health and is seeking a handful of seats on the health product distributor’s board, according to people familiar with the matter.
Elliott nominated five directors to the 11-man panel about two weeks ago, before the sudden Cardinal its last CEO replacement week, people said. The Wall Street Journal reported last week that activists had circled Cardinal this year with the aim of seeing if a management change could help boost the company’s stock price.
