Sarissa Capital’s Denner & Mulligan aim to shakeup Ariad Pharmaceuticals

February 18th, 2015
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Activist hedge fund Sarissa Capital, which owns 12.9 million shares or nearly 7% of Ariad Pharmaceuticals (AIRA), is rumored to have placed Ariad’s CEO Harvey Berger in their peep sight and is formulating a proxy tussle. Sarissa Capital, which is managed by Alex Denner and Richard Mulligan, gained a seat on Ariad’s eight member board last year.

According to CNBC, Ariad shares have fallen about 17 percent in the last 12 months, due to safety concerns for Iclusig, Ariad’s cancer drug. Sources close to Sarissa predict that since Ariad’s company founder Harvey Berger’s chair and also two board member chairs are all up for re-election, Sarissa Capital considers the timing perfect to use their clout to push for a change in leadership.

Hedge Tracker releases a Top Activist Hedge Fund list on a quarterly basis. To view the list in its entirety, please visit the Top Hedge Fund List ranking portal.
For Detailed Investor Profiles on these Investors, click below:
Icahn Associates (Carl Icahn)
Related People: Alexander J. Denner; Brett Icahn; Carl Icahn; Keith A. Meister*
Related Entities: High River Limited Partnership; Icahn Partners; Icahn & Co Inc; Icahn Associates; Icahn Enterprises (formerly American Real Estate Partners); Icahn Fund Ltd; Icahn Partners LP
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles; Featured Reports

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