ARTICLE SUMMARY:
Activist investor Elliott Investment Management recently took a big stake in Medtronic and is urging the company to take steps to improve shareholder value. The changes now being put in place will prioritize high-growth opportunities and could bring more tuck-in M&A and additional paring of the company’s diversified product portfolio.
Medtronic announced in August that it was taking several steps to fuel growth, optimize its operations, and improve shareholder value at the urging of activist investor Elliott Investment Management. Elliott recently took a big stake in Medtronic and is now one of the company’s largest shareholders. Elliott Partner Marc Steinberg noted in a statement that the decision to invest in Medtronic was “driven by our strong conviction that the company is entering a new chapter of exceptional value creation” and is positioned for “an inflection in organic growth.”