Actelion up as hedge fund calls for board shake-up

Reuters – Actelion shares rose 3.5 percent on Friday after hedge fund shareholder Elliott Advisors called for its chairman and chief executive to resign from the board in a push for a sale of the Swiss biotech firm.

The shares have been trading in a tight range since mid-November, when Chief Executive Jean-Paul Clozel sought to quash takeover speculation, saying maintaining independence was the best way to ensure value for the company’s shareholders.

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