Alexion Rejects Elliott Recommendation - Quick Facts

(RTTNews) - Alexion Pharmaceuticals, Inc. (ALXN) said the company has recently engaged in good faith with Elliott Advisors (UK) Limited, an affiliate of Elliott Management, to listen their recommendation that Alexion Pharma immediately launch a proactive sale process. The Board of Alexion Pharma unanimously decided that conducting a proactive sale process would not be in the best interest of shareholders.

Alexion Pharma said its Board considered, among other factors, that it is highly unusual for a biopharmaceutical company of its size to proactively launch a sale process.

Alexion also noted that it has not received any indications of interest to acquire the company nor it has rejected any such inbound proposals.