Investor Activism: Elanco Animal Health Settles With Ancora, Adds New Board Members
Investor Activism: Elanco Animal Health Settles With Ancora, Adds New Board Members
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.
Elanco Animal Health Inc（紐約證券交易所代碼：ELAN）已與Ancora達成和解，使其能夠避開與激進投資者的潛在代理權爭奪戰，將董事會成員擴大到14名。
Ancora's nominees, Craig Wallace and Kathy Turner, are on its board while retaining its Chief Executive Officer, Jeff Simmons.
安科拉的提名人克雷格·華萊士和凱西·特納是董事會成員，同時保留首席執行官傑夫·西蒙斯。
Ancora owns approximately 3% of the outstanding common stock of Elanco Animal Health.
安科拉擁有Elanco Animal Health已發行普通股的約3％。
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 succession planning.
該和解協議標誌着Elanco公司治理在投資者行動主義中取得的重大進展。Ancora持有Elanco的大量股份，總額約爲2.5億美元，一直在倡導公司內部進行各種變革，包括重組董事會和繼任計劃。
Related: This Pet Health Company Sees Growing Demand For Farm-Animal Products, Cost Savings From Restructuring.
相關： 這家寵物健康公司預計，對農場動物產品的需求不斷增長，重組可以節省成本。
In February, Ancora said, "Based on extensive analysis and good faith engagement with Elanco, it appears that the biggest barriers to success are the company's insular Board and unaccountable CEO. It is important to stress that we provided Elanco with a detailed analysis of its issues pertaining to corporate governance, finance, operations, and product development while also privately proposing a settlement framework that accounted for a shareholder-driven refreshment of the board and an orderly succession process in 2025 for long-serving CEO Jeff Simmons."
安科拉在二月份表示：“根據廣泛的分析和與Elanco的真誠合作，成功的最大障礙似乎是公司孤立的董事會和不負責任的首席執行官。值得強調的是，我們向Elanco提供了有關公司治理、財務、運營和產品開發問題的詳細分析，同時還私下提出了和解框架，該框架考慮了由股東推動的董事會更新以及2025年長期任職的首席執行官傑夫·西蒙斯有序的繼任程序。”
Shares in Elanco have witnessed a notable surge since the beginning of the year, underlining investor optimism regarding the company's trajectory. With a current market value of $8 billion, Elanco appears poised to leverage this momentum to address the concerns raised by Ancora and bolster its position in the market, Bloomberg noted.
自年初以來，Elanco的股價顯著上漲，凸顯了投資者對公司發展軌跡的樂觀情緒。彭博社指出，埃蘭科目前的市值爲80億美元，似乎準備利用這一勢頭來解決Ancora提出的擔憂，鞏固其在市場中的地位。
Craig Wallace, former CEO (North America/Pacific) of animal health company Ceva Santé Animale, and Kathy Turner, previously the global chief marketing officer at IDEXX Laboratories Inc (NASDAQ:IDXX), are set to join Elanco's board as part of the settlement.
作爲和解協議的一部分，動物健康公司Ceva Santeé Animale的前首席執行官（北美/太平洋地區）克雷格·華萊士和曾任IDEXX Laboratories Inc（納斯達克股票代碼：IDXX）全球首席營銷官的凱西·特納將加入埃蘭科董事會。
Elanco's proactive approach to resolving its differences with Ancora underscores the company's dedication to fostering constructive shareholder engagement while maintaining its strategic direction and leadership continuity, the Bloomberg report added.
彭博社報告補充說，埃蘭科積極解決與安科拉的分歧，凸顯了該公司致力於促進股東的建設性參與，同時保持其戰略方向和領導連續性。
Price Action: ELAN shares closed at $16.28 on Thursday.
價格走勢：ELAN股價週四收於16.28美元。
Image sourced from Shutterstock
圖片來自 Shutterstock