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Ariad to add activist investor Alex Denner to board

Started by riky, February 22, 2014, 09:00:21 AM

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riky

Ariad to add activist investor Alex Denner to board

(Reuters) - Ariad Pharmaceuticals Inc, which has been struggling with safety concerns involving its only approved drug, said it agreed to add two directors backed by its second-largest investor Sarissa Capital Management to its board. Ariad shares rose 3 percent to $8.98 in early trading. The company said Alexander Denner - investor Carl Icahn's former healthcare lieutenant and Sarissa's chief investment officer - will assume one of the seats. The other director would be selected by the board, "subject to Denner's concurrence," Ariad said.

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