** Shares of contract research firm Charles River Laboratories CRL.N rise 4.80% to $120.95 premarket
** Co has reached a settlement with activist investor Elliott Investment Management to add four new directors to its board and launch a strategic review of the business, Reuters reports, citing two sources familiar with the matter
** Elliott's Global Head of Engagement Steven Barg will join the board along with three other independent directors who have expertise in the pharmaceutical industry, the report adds
** Elliott has become the largest investor in Charles River, but its exact stake could not be determined, according to the report
** The agreement could be announced as early as Wednesday when the co is set to report its quarterly results, the sources told Reuters
** Up to last close, stock was down 38% YTD
(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com;))
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