Amylin's Eastham Says Eastbourne's Behrens Is Not Telling the Truth About $20 Share Bid
Amylin director Karin Eastham has, in essence, called Eastbourne Capital board candidate M. Kathleen Behrens a liar (or at least an amnesiac).
On May 11, Behrens had written to Amylin decrying the company’s “baseless accusation[s]” and “innuendo”; she alleged Amylin was spreading a rumor that she wanted to see Amylin acquired by another company at $20 a share. Behrens insisted that she wants no such thing.
Today, Eastham wrote back to Behrens to say, Yeah, you did say that:
You may recall that you and I had a phone conversation on January 22, 2009 … During that conversation, we discussed the topic of a potential sale of the Company and you expressed an interest and willingness to sell Amylin at a price of $20 a share …
I listened very carefully to your perspective and respectfully assure you that you did in fact state your willingness to sell Amylin for $20 a share.
Amylin is attempting to fend off a challenge for control of its board by Eastbourne and investor Carl Icahn; both believe the company’s stock has fallen too low. A shareholder vote is scheduled for the end of this month.
- See previous coverage of Amylin:
- Amylin Accused of Spreading “Baseless Accusations,” “Innuendo” and Misusing CNBC in Director Fight
- Amylin Sales Force Is Least-Effective Among Its Peers, Claims Eastbourne
- Amylin May Abandon the “Byetta” Name for Exenatide Once Weekly
- Amylin v. Icahn Slideshow Battle: Tear Up Lilly-Byetta Agreement!
- Amylin v. Eastbourne Slideshow Battle; It’s All About the Stock Price
- In U-Turn, Amylin Lays Off 200; Move Validates Icahn’s Arguments
- Amylin Trial Testimony: Debt Not Structured With Interest or Principal Payments in Mind
- The War for Amylin: Lilly Not Interested; Icahn Calls the Company a “Dictatorship”
- Amylin CEO Got 11% Pay Rise Despite Losses; Company Paid $355K for Lawyer to Move House
- Amylin Q1: “Icahn Doesn’t Know Who Our CEO Is”
- In War for Amylin, Icahn and Eastbourne Win a Battle: “Poison Pill” Revoked
- Amylin Founder Resigns, Suggests Chairman Follow; Icahn and Eastbourne Likely Delighted
- Inside Amylin’s Anti-Icahn Suicide Pact
- Amylin Battle Heats Up as Eastbourne Capital Touts Rival Directors’ Slate to Icahn’s
- Icahn Moves on Amylin; Will Lilly Step Up?
- Behind the Byetta Crisis: Is This Drug Really All That and a Bag of (Fat-Free) Chips?
Jim Edwards, a former managing editor of Adweek, has covered drug marketing at Brandweek for four years, and is a former Knight-Bagehot fellow at Columbia University's business and journalism schools. Follow him on Twitter or send him an email.
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