Recommends Shareholders Vote “FOR” the Proposals Relating to the Merger
Akebia Therapeutics, Inc. mailed a letter to Akebia shareholders in connection with the special meeting of Akebia shareholders that has been called to approve shareholder proposals relating to the previously announced proposed merger of Akebia and Keryx Biopharmaceuticals.
The Special Meeting will be held at 11:00 a.m. Eastern Time on December 11, 2018, at the offices of Latham & Watkins LLP, which are located at 200 Clarendon Street, Boston, MA 02116. Holders of record of Akebia common stock as of 5:00 p.m. Eastern Time on October 22, 2018, will be entitled to vote at the Special Meeting.
The Akebia Board of Directors unanimously recommends that Akebia shareholders vote “FOR” the proposals relating to the proposed merger with Keryx.
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Dear Fellow Akebia Shareholder:
The Special Meeting to approve our proposed merger with Keryx is approaching. The Board unanimously believes this combination will provide substantial strategic, financial and operational benefits to Akebia, and increase the long-term value of Akebia.
We came to this conclusion following a robust strategic evaluation. This included considering the advice of our independent financial advisors, Evercore and J.P. Morgan.
Accordingly, we recommend that shareholders vote today “FOR” the Akebia proposals set forth in the definitive proxy statement, including “FOR” the proposal to issue shares of Akebia common stock to Keryx shareholders in relation to the proposed merger.
Notably, we have talked with numerous shareholders and key opinion leaders who support the actions we are taking. Importantly, several independent research analysts are equally supportive1:
- “From Akebia’s perspective, the merger offers a highly experienced, readily leveraged marketing and sales infrastructure […] We believe this infrastructure should improve the future launch of vadadustat in partnership with Otsuka.” – H.C. Wainwright, 08/10/18
- “We continue to think the deal makes good strategic sense, particularly given physician survey feedback that we think portends well for the Auryxia sales trajectory.” – Piper Jaffray, 08/08/18
- “We like the merger from a strategic and financial standpoint over time. We believe Keryx and Akebia products are complementary and will provide multiple avenues of value creation for the ‘new’ Akebia.” – Mizuho, 07/02/18
VOTE “FOR” THE PROPOSALS RELATING TO
AKEBIA – KERYX MERGER TODAY
Your vote is extremely important, no matter how many shares you own. Please take a moment to vote “FOR” the proposals set forth on the enclosed proxy card today – by internet, telephone toll-free or by signing, dating and returning the enclosed proxy card in the postage-paid envelope provided.
If you have any questions or need assistance voting your shares, please contact MacKenzie Partners, Inc., our proxy solicitor, by calling toll-free at (800) 322-2885 (from the U.S. and Canada) or (212) 929-5500 (call collect from other locations) or via email at proxy@mackenziepartners.com.
On behalf of the Akebia Board of Directors, thank you for your continued support of Akebia.
Sincerely,
Muneer A. Satter
Chairperson of the Akebia Board of Directors
Date: November 19, 2018
Source: Yahoo Finance
