Why GlaxoSmithKline Stock Jumped Today

Shares of GlaxoSmithKline (NYSE: GSK) jumped 4.3% on Thursday. The gain came after The Financial Times reported that activist investor Elliott Management is building a "significant" stake in the drugmaker.

Elliott Management is known for aggressively pushing companies' management teams to make changes that directly benefit shareholders. In recent years, the hedge fund has been instrumental in forcing the boards of companies including Alexion Pharmaceuticals and Alkermes to take different approaches.

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Source Fool.com