Ariad Pharmaceuticals Inc fka ARIA

[DonShimoda]

With the board stacked with FOH (friends of Harvey), the staggered board may be more of an issue to a potential buyout than the poison pill. Shareholders would need to replace the majority of the board but Ariad has 3 director classes with only 2 directors up for election each year - so it would take two years to gain board control. To make it even more difficult, I don't believe Ariad shareholders have the ability to call a shareholders meeting in order to overide/speed up the process.