Ironwood pleas with investors: Don't give us Alex Denner
Ironwood $IRWD is ramping its efforts to fend off a board activist known for auctioning biotechs to the highest bidder, sending out a plea to shareholders Wednesday to reject Alex Denner’s bid for a board seat.
At first, Ironwood appeared open to the idea, notifying shareholders last month that Sarissa Capital, Denner’s company, planned to nominate him. Sarissa took a stake in Ironwood late last year. Denner is probably best known as Carl Icahn’s protégé, with a history of spurring acquisitions of the companies in which he invests. He served as chairman of Ariad before Takeda acquired the cancer company for $5.2 billion last year. He was also a board member at Bioverativ before it was sold to Sanofi for $11.6 billion earlier this year. And he recently took control of The Medicines Co $MDCO amid considerable buzz.
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