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Savient Pharmaceuticals (SVNT -12.6%) shares plunge after Dendreon (DNDN +4.6%) swipes its CEO,...

Savient Pharmaceuticals (SVNT -12.6%) shares plunge after Dendreon (DNDN +4.6%) swipes its CEO, as John Johnson will take the helm at DNDN on June 30 after only one year at SVNT. Deutsche Bank says Johnson has a history of M&A and his fresh perspective might benefit DNDN's near-term strategy, noting his success in selling Imclone to Eli Lilly and attempts to sell SVNT.
Comments (1)
  • shakazoid
    , contributor
    Comments (146) | Send Message
     
    anyone notice this statement in form 8-k filed with SEC (http://bit.ly/AEtyIq) "If such termination by the Company without Cause or resignation by Mr. Johnson with Good Reason occurs within three months before, or twenty-four months after, a Change of Control of the Company (as defined in the Agreement), then Mr. Johnson will be entitled to the sum of 250% of his then current base salary plus 250% of his target annual bonus for such year." Does this mean a possibility of an acquisition in 3 months
    3 Feb 2012, 12:32 PM Reply Like
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