Catalent announces governance enhancements and new initiatives to drive value
Client(s) Board of Directors of Catalent Inc.
Jones Day advised the Board of Directors of Catalent, Inc. in connection with its entry into a cooperation agreement with activist shareholder Elliott Management. In accordance with the agreements with Elliott, the Board approved the appointment of four new independent directors.
Catalent’s Board also appointed a current member of the Board to Executive Chair and established a new Strategic and Operational Review Committee to conduct a review of the Company’s business and operations, as well as the Company’s capital-allocation priorities, to maximize the long-term value of Catalent. Catalent has entered into a Cooperation Agreement with Elliott under which Elliott agreed to customary standstill, voting, confidentiality and other provisions.