Chemed edges higher on report activist Barington has taken a stake

Chemed (CHE) shares rose 2% following reports that activist investor Barington Capital has taken a stake and proposed adding Chan Galbato to its board. Barington believes Chemed can improve its businesses but has not urged a split-up. Talks with management are ongoing, while the stock has dropped 27% over the past year.

Chemed (CHE) ticked higher by 2% amid a report that activist investor Barington Capital has accumulated a stake in the healthcare services company and proposed a new board director. The fund believes Chemed (CHE) can improve its businesses and suggested adding Chan Galbato, former CEO of Cerberus Capital Management’s operations platform, to the com...