Eiken Chemical Weighs Dalton's Board Proposal, Flags Conflict Risks

MT Newswires Live
04-30

Eiken Chemical (TYO:4549) sent a draft agreement to Dalton Investments after the shareholder formally proposed six board candidates, raising the risk of control if all are elected, according to a Monday filing on the Tokyo Stock Exchange.

The diagnostics firm said Dalton's push ties into a potential buyout and warned of possible conflicts of interest.

Eiken also cited flaws in Dalton's financial model and said any Dalton-linked directors would be barred from votes on related-party matters.

Price (JPY): $2234.00, Change: $+18, Percent Change: +0.81%

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