MEI Pharma pushes back on activist investors after failed merger with Infinity
29 Sep 2023
AcquisitionIPO
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.
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Source: EndPoints
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