Deals
Singer's Elliott Builds a Stake in Smith & Nephew
- Not clear how much activist owns of artificial hip maker
- Smith & Nephew said Monday its CEO will step down next year
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Billionaire Paul Singer’s hedge fund Elliott Management Corp. has built a stake in Smith & Nephew Plc, the maker of artificial hips and knees, according to people familiar with the matter.
It’s not clear how much of London-based Smith & Nephew the activist investor owns or what it plans to push for at the company, the people said, asking not to be identified as the details aren’t public. Under U.K. disclosure rules, an investor is generally required to report a shareholding that exceeds 3 percent.