May 12, 2020 / 12:48 PM / 22 days ago

BRIEF-Elliott Advisors Sends Letter To Alexion Pharmaceuticals

May 12 (Reuters) - Elliott Advisors:

* ELLIOTT ADVISORS, IN LETTER TO ALEXION, SAYS BEST APPROACH FOR ALEXION IS IMMEDIATE EXPLORATION OF A SALE

* ELLIOTT ADVISORS - ALEXION’S ACQUISITION OF PORTOLA OFFERS “EVIDENCE IN SUPPORT OF OUR VIEW” THAT ALEXION’S BOARD IS TAKING CO IN “WRONG DIRECTION”

* ELLIOTT ADVISORS - BELIEVE THAT ALEXION BOARD IS IN URGENT NEED OF “FRESH PERSPECTIVES AND A NEW DIRECTION”

* ELLIOTT ADVISORS - PORTOLA’S “LACK OF OBVIOUS STRATEGIC FIT” WITH ALEXION IS WHAT DROVE “BULK OF THE MARKET’S NEGATIVE REACTION, IN OUR VIEW”

* ELLIOTT ADVISORS - BELIEVE ALEXION SHARES NOW TRADES AT A 40-50% DISCOUNT TO FAIR VALUE Further company coverage:

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