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Shah Capital demands Novavax changes
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Shah Capital demands Novavax changes
Shah Capital is pressing biotech firm Novavax’s board to explore strategic options, including a full sale, and warns it may launch a proxy fight if changes aren’t made within four months, according to a report by Reuters. The investor has recently increased its share in Novavax to 8.3%, up from 7.2% in October. In letters to Novavax’s board, Shah said it was “increasingly disenchanted” with the company’s poor performance and limited market share…
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