October 8, 2019 / 12:17 PM / 8 days ago

Amag appoints activist investor Caligan's nominees to board

Oct 8 (Reuters) - Amag Pharmaceuticals Inc said on Tuesday it settled with activist investor Caligan Partners LP and appointed two of the hedge fund’s nominees to its board.

Caligan, which owns a 10.3% stake in Amag, had been pressing for a change at the company since last month, including the removal of four directors from the board.

As part of the settlement, Caligan’s co-founder David Johnson and Paul Fonteyne, former CEO of Boehringer Ingelheim USA, will join the board, expanding its size to 11 directors. (Reporting by Saumya Sibi Joseph in Bengaluru; Editing by Maju Samuel)

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