Charles River (CRL) has reached a deal with activist investor Elliott Investment Management, and the pharmaceutical will add four new directors to its board and launch a strategic review of the business as a result, Reuters’ Svea Herbst-Bayliss reports. According to two sources familiar with the matter, Elliott’s Global Head of Engagement Steven Barg will join the board along with three other independent directors who have expertise in the pharmaceutical industry. An agreement could be announced as early as Wednesday.
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