ARTICLE | Finance

Ramming Cypress

Cowen's Ramius unit makes an activist play for Cypress Bioscience

July 26, 2010 7:00 AM UTC

Ramius, the alternative investment arm of Cowen Group, last week made a hostile offer for Cypress Bioscience Inc. (NASDAQ:CYPB) in order to force the company to hire an investment bank and evaluate its offer and those of "any other potential acquirers."

Ramius already owns 3.8 million shares (9.9%) of Cypress, all of which it has acquired since late May...