Melnyk Drops Biovail Proxy Bid, For Now
Melnyk said in a statement Monday that he and EM Holdings BV, also known as the “concerned shareholders,” do not intend to contest the elections at Biovail's upcoming shareholder meeting.
Melnyk's decision comes on the heels of a ruling by a Toronto court that refused to approve Biovail's board elections on June 25. The Canadian court ruled that the meeting was...
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