Activist investor Elliott Management has a large position in Cardinal Health and is seeking a handful of seats on the medical-products distributor’s board, according to people familiar with the matter.
Elliott nominated five directors to the 11-person board roughly two weeks ago, before Cardinal abruptly replaced its chief executive last week, the people said. The Wall Street Journal reported last week that activists have been circling Cardinal this year with an eye toward whether management change could help boost the company’s share price.
