Who will win control of Actelion's board? Will it be Elliott Advisors and sympathizers or their opponents BB Biotech AG, Rudolph Mag and allies? Right now it looks like a neck and neck battle. The US consulting group Georgeson is working a straw poll with Actelion investors on Elliott's behalf in preparation for battle at the May 5th annual meeting. They say a group of International Institutional investors will decide it.
Elliott tells the WSJ it has the upper hand now -- what else would they say? We've lost? They say International Shareholder Services will back their candidates. It will come down to a close vote at the May 5th meeting and will hinge on a group of 18% in the middle who are primarily instituional investors.
Again, we won't have to wait long -- May 5th hovers in the near future. See Fierce Biotech and warm up the ropes.
Posted by Bruce Lehr April 22nd 2011.