Bloomberg is reporting that Actelion has prevented some hedge fund shareholders from attending a presentation at the biotechnology company's headquarters this week. The event is slated to take place Thursday in Allschwil, Switzerland, and attendees will include company's largest shareholders and research analysts from investment banks, according to sources. The company is scheduled to disclose its full-year results that day.
Funds that have tried to sign up were told that the meeting is reserved for investment-bank analysts and certain large investors, according to one shareholder. Investors are being told they can follow the presentation via a webcast, he said, Bloomberg reports.
Rumors have been swirling of a possible takeover of Actelion, a Roche spinout. Last year, the company created a board committee to explore its various alternative strategies, which is often company-speak for scouting for a buyer. Amgen is rumored to be a suitor, and the company has been pressured by Elliott Advisors, its largest shareholder, to consider a sale. However, CEO Jean- Paul Clozel has said Actelion should remain independent.
Elliott reportedly will be attending the event, an unnamed source says.
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