ARTICLE | Company News

Medicines Co. board could tilt toward Denner’s control

March 2, 2018 12:45 AM UTC

The Medicines Co. (NASDAQ:MDCO) said it plans to reduce its board members to seven from 12, according to an SEC filing, with many of the directors it plans to nominate at its annual meeting affiliated with activist investor Alex Denner. Medicines Co. gained $2.65 to $33.27 on Thursday, adding $194 million in market cap.

The seven directors the company plans to nominate at the meeting are Denner, Medicines Co. Executive Chairman Fredric Eshelman, Geno Germano, John Kelly, Medicines Co. CEO Clive Meanwell, Paris Panayiotopoulos and Sarah Schlesinger, all of whom are on the company’s board. A date for the meeting has yet to be disclosed...