Financial writers often lament that shareholders are too passive with
respect to exercising their rights to oppose management decisions that
they disagree with and holding management to account. Well, that can't
be said about Elan's (NYSE:ELN)
shareholders. Shareholders handed a significant and embarrassing
collection of rejections to management, a move that I would argue
expresses a very wise lack of confidence in management. With this
rejection of management's strategy, I would hope that Elan management
sees reason and seeks out the best deal available to sell the company.
Please read more here:
http://www.investopedia.com/stock-analysis/061713/elan-shareholders-bring-management-heel-eln-thrx-biib.aspx
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