Biogen confirms Icahn ally is on board - Dallas Business Journal:

fixyruw.wordpress.com
Shareholders were to elect four directord atthe meeting. Biogen was pushint for the reelection of all ofthe company’s existint directors, while Icahn was angling to seat four new director. Accordinh to Biogen Idec, shareholders appead to have reelected current directors Robert Pangia andWilliamk D. Young, and elected Icahn ally Alexandef Denner. Biogen Idec officials say the vote for the fourtyh seat is too closeto call. Biogen said the company will rely on the tabulationh of votes by its independentr inspectorof elections, IVS Associates, before announcintg the remaining director to serve on the Bruce R.
Ross, Biogen Idec’ss chairman, said, “We welcome our new directord to the board and look forwarfd to working together to build on our strong trackm record ofdelivering value. While we await the outcomw of the vote for theremaining director, we woulf like to express our gratitude for the suppory of our stockholders.” Icahn, in a filing with the Securitiexs and Exchange Commission, accused the company of preventing the votesz cast from being “If the board is successful, Richard Mulligan, a prominent scientistt and physician, may be kept from legitimately beinb elected to the board.
” Mulligan is the Mallinckrodt Professorf of Genetics at Harvard Medical School and directotr of the Harvard Gene Therapy Initiative, according to Harvard University’s Web Biogen said shareholders rejected severa l of Icahn’s other proposals, including moving the company’sa incorporation from Delaware to Nortb Dakota, a move Icahn said would give more power to shareholders. Biogenm officials said it appears that stockholder s also rejected a proposalo by Icahn to limit the size of the boar d to13 directors. Biogen officials now have the powe r to enlarge the board as theysee fit.
Icahnj is best known for unsuccessfully pushing BiogeIdec (Nasdaq: BIIB) to sell itself in 2008. Last shareholders elected the company’s nominees over the slatw of investors put upby Icahn. Biogen Idec’s BIIB) stock was trading at $53.17 in afternoon trading Thursday, down from the previous day’s closwe of $53.43 a share.