Activist hedge fund Elliott Management Corp said on Friday it had entered into a standstill agreement with U.S. healthcare services company Advisory Board Co.
Elliott Associates, a unit of Elliott Management, disclosed an 8.3 percent stake in Advisory Board in January, calling the stock “undervalued”. The stake makes Elliott the company’s largest shareholder, according to Thomson Reuters data.
Advisory Board Co provides research and software tools as well as consulting services to healthcare and education companies.
(Reporting by Dipika Jain in Bengaluru- Editing by Sai Sachin Ravikumar)
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