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STALEMATE: Vivus, FMC disagree on settlement terms

This article was originally published in Scrip

Executive Summary

On the eve of Vivus's annual shareholder meeting on 18 July, where the obesity drug developer is expected to reveal the results of a contentious proxy vote, the Mountain View, California-based company and activist investor First Manhattan Co continued to disagree on a settlement of their egregious dispute – even after Vivus CEO Leland Wilson offered to retire.

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