Exclusive-Catalent nears settlement with Elliott for board seats -sources By Reuters

© Reuters. A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. REUTERS/Yves Herman

By Svea Herbst-Bayliss and Maggie Fick

(Reuters) – Catalent (NYSE:) Inc is close to reaching a settlement with Elliott Investment Management that would lead to a shake-up of the U.S. contract drug manufacturer’s board of directors after its share price lost half of its value in the last year.

The company is poised to agree to add four new directors proposed by Elliott to its board, which currently has 12 members, people familiar with the situation said on Monday.

The sources declined to be identified because the information is confidential and cautioned a deal could still collapse at the last minute.

Spokespeople for Catalent and Elliott declined to comment.

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