Icahn trio rejected by Biogen shareholders
USA-based Biogen Idec's shareholders have elected all four of the company-nominated candidates to the firm's board, rejecting three nominees put forward by billionaire industrialist Carl Icahn, who owns 4% of Biogen's shares.
Cecil Picket, Lynn Schenk, Philip Sharp and Stelios Papadopoulous were elected to the board, according to a preliminary count to be verified in two to three weeks. Mr Icahn did not attend the vote.
Biogen has been campaigning for its shareholders to reject Mr Icahn's proposed boardmembers as it believes his only interest is in driving the firm's sale for his own ends (Marketletter May 19). Mr Icahn previously lobbied the company to offer itself for acquisition (Marketletter October 22, 2007), but the search was called off when no suitable offers were tendered, to the industrialist's objection.
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