December 7, 2021

The Vital Scoop

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Alexion Pharmaceuticals rejects Elliott push for “proactive sale”

Alexion Pharmaceuticals Inc said on Friday its board of directors had unanimously decided against hedge fund Elliott Management’s push for a “proactive sale” process, saying it would not be in the best interest of shareholders. For years, Elliott Management, which has built a stake in Alexion, has been urging the company to take more action to boost its stock price. “We have recently engaged in good faith with … Elliott Management, to listen to their point of view, including their recommendation that we immediately launch a proactive sale process,” the company said in a statement.

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