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
Investopedia: Elan Shareholders Bring Management To Heel
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