Elliott Takes Stake in Takeover Target UDG Healthcare

Activist investor Elliott Investment Management has built a position in UDG Healthcare Plc, which has drawn shareholder criticism over the terms of its proposed takeover by buyout firm Clayton Dubilier & Rice.

The New York-based hedge fund, which is run by billionaire Paul Singer, disclosed in a regulatory filing Monday it owns a 3.1% stake in the company in derivatives and other options. It didn’t say in the filing what the nature of the investment was, or what changes it might be seeking.