Amylin Nominates 2 New Directors Amid Proxy Fight
Meanwhile, Eastbourne Capital, which owns a 12.5 percent stake in Amylin, has said it would nominate a slate of five directors.
Aside from the two new independent directors, Amylin said it will nominate the rest of its current board for re-election.
"With their broad range of expertise, diverse perspectives, and in-depth knowledge of Amylin's business, these directors will continue to serve the best interests of all Amylin stockholders," the company said.
Eastbourne Capital, in a separate statement Monday, put its support behind a lawsuit filed in Delaware by San Antonio Fire & Police Pension Fund, another shareholder. They are looking to invalidate a "poison pill" program and other arrangements by the company that make it difficult and costly for a hostile takeover."Since this year there are two separate shareholder slates, the company's poison puts, unless they are neutralized, threaten to tilt the electoral playing field in favor of the incumbent board by effectively precluding not merely the election of a new majority on the board, which Eastbourne is not seeking, but, as a practical matter, the election of any shareholder-nominated directors at all," said Eastbourne founder and manager Rick Barry.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV