trending Market Intelligence /marketintelligence/en/news-insights/trending/1Jk5vvJeGBTiaMB-pgSCtw2 content esgSubNav
In This List

Report: Activist investor urges Shire to divest assets amid weak stock price

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Perspectives from China: Chinese M&A in 2022


Report: Activist investor urges Shire to divest assets amid weak stock price

Activist investor Sachem Head Capital Management is calling on Shire plc to divest its assets through a sale or spinoff, Sky News reported, citing sources familiar with the matter.

The U.S.-based hedge fund's demand was attributed to the pharmaceutical company's poor stock price performance following its $32 billion acquisition of Baxalta, Sky News said.

According to the sources, Sachem Head Capital already discussed the matter with the company's directors but has not formally sent a letter to the board yet.

Shire stated during its second-quarter earnings release that it is considering a spinoff of its neuroscience business as part of a strategic review, which is expected to be complete by the end of 2017.