first_img KCS-content Major Actelion investor backs board over activist by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads whatsapp Monday 18 April 2011 8:46 pm More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes Sharecenter_img Show Comments ▼ whatsapp ACTIVIST hedge fund Elliott Advisors suffered a setback in its battle with Swiss biotech company Actelion yesterday after a major shareholder backed the firm’s board.BB Biotech, which holds almost five per cent of Actelion’s shares, said it would back all the board’s proposals in the annual meeting on 5 May. It means about 15 per cent of Actelion’s shareholders now publicly favour the board, after 5.5 per cent shareholder Rudolf Maag voiced his support last month.“We have managed our investment in Actelion actively over many years and have enjoyed excellent returns,” Zurich-based BB Biotech, a pure-biotech investor, said in a statement.BB Biotech admitted it had been “disappointed” by the results of some past decisions taken by the board. “But we have never doubted the competence of Actelion’s scientists, the commitment of their management or the veracity of their board,” it said. “We won’t change our minds now.” Elliott, which holds around seven per cent of the firm, wants seven members of the board to step down, including founder Jean-Paul Clozel, and six directors of its choice to join. It has complained of poor corporate governance, criticised Actelion’s drug pipeline and demanded a strategic review viewed widely as a call for a sale or merger with another firm Tags: NULLlast_img