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Tripos Directors Reaffirm Plan to Explore M&A, Divestiture

May 18, 2006

NEW YORK, May 18 (GenomeWeb News) - Tripos' board of directors have "reaffirmed [their] commitment" to explore options for spurring growth, including selling or merging the firm, going private, or separating its informatics and research businesses.

 

The comments were made yesterday during the company's annual stockholders' meeting. Also at the meeting, the firm's six directors were re-elected to another one-year term, and the board extended the 1996 Director Stock Compensation Plan.

 

Tripos has been exploring options for its future since at least January, when the company said it had retained financial advisory firm Seven Hills Partners to identify options to help it grow.

 

Two months earlier, Tripos announced the end   of its lucrative four-year collaboration with Pfizer.

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