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QVT Financial LP, the third-largest shareholder in obesity drugmaker Vivus Inc (VVUS.O), intends to vote for the full slate of nine directors proposed by dissident investor First Manhattan Co, a source familiar with QVT's thinking said on Wednesday. The investment firm, which owns a roughly 8.3 percent stake in Vivus, according to its latest public filings, has come to the decision because it believes that changes are needed at the drugmaker, the source said. First Manhattan, Vivus' largest shareholder with a 9.9 percent stake, is seeking to take full control of the company's board with its own nine nominees.
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QVT Financial LP, the third-largest shareholder in obesity drugmaker Vivus Inc (VVUS.O), intends to vote for the full slate of nine directors proposed by dissident investor First Manhattan Co, a source familiar with QVT's thinking said on Wednesday. The investment firm, which owns a roughly 8.3 percent stake in Vivus, according to its latest public filings, has come to the decision because it believes that changes are needed at the drugmaker, the source said. First Manhattan, Vivus' largest shareholder with a 9.9 percent stake, is seeking to take full control of the company's board with its own nine nominees.
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