04 Feb '11, 12pm

Hedge fund urges Actelion board shake-up: * Elliott Advisors has nearly 6 percent stake in Actelion

* Elliott Advisors has nearly 6 percent stake in Actelion * Letter calls for chairman and CEO to resign from board * Actelion says has received letter, to react in due course * Shares rise 4.3 percent By Martin de Sa'Pinto and Quentin Webb ZURICH/LONDON, Feb 4 - Hedge fund shareholder Elliott Advisors called for Actelion <ATLN.VX> to explore a possible sale, and for the Swiss biotech's chairman and chief executive to resign from the board. Shares in Actelion rose more than 4 percent after it emerged Elliott had sent a letter, which said Chief Executive Jean-Paul Clozel's attitude to a potential sale of the company, worth around 6.7 billion Swiss francs , was not in shareholders' interests. "We believe his public statements and apparent campaign to keep the company independent are wholly inconsistent with his position as a board member and the fiduciary requirements of that...

Full article: http://sg.news.yahoo.com/rtrs/20110204/tbs-actelion-73189...

Tweets

Singapore's International Film Fund seeks featu...

smf.sg 04 Feb '11, 8am

To be eligible, all submissions must be received by 6.00pm on 4 April 2011 , Singapore time. Incomplete proposals will be ...

DTN Singapore: Fullerton Fund Management acting...

channelnewsasia.com 07 Feb '11, 11am

SINGAPORE: The acting CEO of Fullerton Fund Management, which is a unit of Singapore investment firm Temasek Holdings, has...

Apply For Water Efficiency Fund (WEF): New addi...

business.gov.sg 07 Feb '11, 4am

Formally accept the Letter of Offer. You must accept the Offer within 30 days and start on the project within 6 months of ...