MEI Pharma pushes back on activist investors after failed merger with Infinity
MEI Pharma is in defense mode after activist investors called for the removal of the San Diego biotech’s entire board and a cash return to shareholders.
The investors, Anson Advisors and Cable Car Capital, had tried buying the biotech earlier this year with an unsolicited bid, which MEI soundly rejected in June as it was working on an all-stock merger with Infinity Pharmaceuticals. That merger fell apart in July, and the backlash has caused a reckoning for Infinity.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.