The board of Actelion (ATLN.VX) urged shareholders on Monday to reject what it called an ill-conceived plan by activist hedge fund Elliott Advisors to install six new board members and prepare the way for a sale. "Elliott's attempt to seize control of your company has been undertaken with one goal -- to force a quick sale," Actelion's board said in a letter to shareholders ahead of the company's annual general meeting on May 5. "Elliott's objective, therefore, is an ill-timed attempt that would surrender to a potential acquirer the future value that rightly belongs to all shareholders," it said, adding none of the board supported Elliott's "ill-conceived plan".
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