Glaxo Supported by Leading Shareholders Over Elliott Management Shake-Up Bid

 GlaxoSmithKline PLC shareholders have backed the company over concerns that activist U.S. hedge fund Elliott Management is set to push for a shakeup, The Times reports.

--Several top 20 shareholders in the British pharmaceutical company have contacted Chairman Jonathan Symonds to express support for the board and its current strategy, according to The Times.

--Elliott hasn't yet revealed its intentions to the company but has begun to engage with other leading shareholders, The Times reports.

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