IDXX - Investor Activism: Elanco Animal Health Settles with Ancora Adds New Board Members | Benzinga
Elanco Animal Health Inc (NYSE:ELAN) has reached a settlement with Ancora, enabling it to sidestep a potential proxy fight with the activist investor, expanding the board to 14 members.
Ancora’s nominees, Craig Wallace and Kathy Turner, are on its board while retaining its Chief Executive Officer, Jeff Simmons.
Ancora owns approximately 3% of the outstanding common stock of Elanco Animal Health.
The settlement marks a significant development in Elanco’s corporate governance as it navigates through investor activism. Ancora, with a substantial stake in Elanco amounting to approximately $250 million, had been advocating for various changes within the company, including restructuring its board and ...