Update: Market Chatter: Activist Elliott Investment Builds Stake in Align Technology

MT Newswires Live03-20

(Updates with Align's response in the third paragraph.)

Elliott Investment Management has amassed a sizable stake in Align Technology (ALGN) and plans to engage with the dental device company to encourage it to consider ways to boost its stock price, Bloomberg News reported Thursday, citing people familiar with the matter.

The activist investor is now one of the largest shareholders of the Invisalign teeth-straightening product maker, the unnamed sources told the news outlet.

Align said in an email to MT Newswires that it is open to engaging with Elliot as with other shareholders. "Align is focused on executing its strategic plan, delivering superior outcomes for doctors and patients and driving sustainable growth and performance," the company said.

Elliot didn't immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment