Icahn seeks to put four new members on Forest Labs' board
US drugmaker Forest Laboratories (NYSE: FRX) says that it has received notice from High River Limited Partnership, an entity affiliated with billionaire investor Carl Icahn which owns 6.5% of the firm’s stock, of its intention to nominate four individuals for election to Forest's nine-member board of directors at the company's 2011 annual meeting.
Forest’s shares rose 2.8% to $39.02, making the stock one of the biggest gainers on the S&P 500 in morning trading yesterday, noted the Associated Press. Forest said its board will evaluate the nominees and make a recommendation. All of the Company's directors are up for re-election.
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