Carl Icahn is continuing his bulldog campaign to wrest control of Biogen Idec (BIIB). With Icahn's nemesis, Biogen CEO Jim Mullen, headed out the door to his retirement [1], the Wall Street raider has alerted the big biotech company that he has three new nominees for the Biogen board.
The candidates: Thomas Duel, Eric Rowinsky and Richard Young. Icahn holds 16.1 million shares in Biogen Idec, which has been one of his top projects of late. A total of four of the board's 12 seats are up for election, which includes Mullen's seat, as well as that of former chairman Bruce Ross.
Icahn has furiously criticized Mullen--a favorite tactic of his when it comes to takeovers. He cheered Mullen's announced departure [2] a few weeks ago. Icahn had angrily denounced Mullen's failed attempt to sell the company, saying he sabotaged the whole process. And things didn't get any better after Biogen Idec's failed attempt to gain control of Facet Biotech, a partner on key drug programs. Icahn successfully won two seats on Biogen's board about seven months ago.
- here's the Reuters piece [1]
Related Articles:
Biogen CEO calls it quits after 7 turbulent years [2]
Icahn: Split Biogen into two companies [3]
Icahn buys up cheaper Biogen Idec shares [4]
Icahn loses a big round with Biogen Idec [5]
Links:
[1] http://www.reuters.com/article/idUSN2822936220100128
[2] http://www.fiercebiotech.com/story/biogen-ceo-calls-it-quits-after-7-turbulent-years/2010-01-05
[3] http://www.fiercebiotech.com/story/icahn-split-biogen-two-companies/2009-05-12
[4] http://www.fiercebiotech.com/story/icahn-buys-cheaper-biogen-idec-shares/2008-08-12
[5] http://www.fiercebiotech.com/story/icahn-loses-big-round-biogen-idec/2008-06-19