Ariad +5.3% AH; activist investor reportedly wants board seats


Reuters reports activist investor Sarissa Capital wants at least two seats on Ariad Pharmaceuticals' (ARIA) board. Sarissa is said to have spoken with Ariad about "adding a few of its own directors," with the goal of reaching a deal before a proxy deadline.

The deadline for nominating Ariad directors is Feb. 20. Three seats will be up for re-election at Ariad's annual meeting, expected to be around the third week of June.

Sarissa, which waged a successful proxy battle against Vivus with fellow activist First Manhattan, disclosed a 6.22% stake in Ariad back in October. Ariad, occasionally the subject of M&A speculation, adopted a poison pill soon after.

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