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Glaxo shares rally as Elliott said to have built ‘significant’ stake

GlaxoSmithKline shares shot higher on Thursday as it emerged that activist hedge fund Elliott Management has built a multibillion-pound stake in the pharmaceuticals company.
According to the Financial Times, which cited a person with knowledge of the investment, the stake taken is “significant”.

At 1235 BST, the shares were up 4.6% at 1,348.54p.

–More to follow–

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