Vivus vote delayed as company negotiates with First Manhattan-sources

NEW YORK, July 18 Thu Jul 18, 2013 1:02pm EDT

NEW YORK, July 18 (Reuters) - Obesity drugmaker Vivus Inc has delayed its board election, which was scheduled for Thursday morning, as it negotiates with shareholder First Manhattan Co, according to two sources familiar with the situation.

The meeting, which was originally scheduled for 8 a.m. PST, has been delayed two hours, but might be postponed further if settlement talks continue, said the sources, who wished to remain anonymous because they are not permitted to speak to the media.

A settlement between the two parties is expected shortly, said one of the sources.

A First Manhattan spokesman declined to comment. Vivus declined to comment.

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