Biogen confirms Icahn ally is on board - Atlanta Business Chronicle:

vuwodu.wordpress.com
Shareholders were to elect four directors atthe meeting. Biogen was pushingv for the reelection of all ofthe company’ds existing directors, while Icahn was angling to seat four new director. Accordingg to Biogen Idec, shareholders appear to have reelecter current directors Robert Pangia andWilliam D. and elected Icahn ally Alexander Biogen Idec officials say the vote for the fourth seat is too closewto call. Biogen said the companyt will rely on the tabulation of votes by its independengt inspectorof elections, IVS Associates, before announcingt the remaining director to serve on the Bruce R.
Ross, Biogen Idec’s chairman, “We welcome our new directore to the board and look forward to workinfg together to build on our strong tracjk record ofdelivering value. While we await the outcoms of the vote for theremaining director, we woulde like to express our gratitude for the suppory of our stockholders.” Icahn, in a filing with the Securitie and Exchange Commission, accused the compan y of preventing the votes cast from beinhg counted. “If the board is successful, Richars Mulligan, a prominent scientist and physician, may be kept from legitimatel being elected tothe board.
” Mulliganb is the Mallinckrodt Professoe of Genetics at Harvard Medical School and directoer of the Harvard Gene Therapyg Initiative, according to Harvard University’s Web site. Biogej said shareholders rejected severalof Icahn’s other proposals, including moving the company’s incorporation from Delawar e to North Dakota, a move Icahnm said would give more power to Biogen officials said it appearxs that stockholders also rejected a proposal by Icahn to limit the size of the boarcd to 13 directors. Biogen officials now have the powetr to enlarge the board as theysee fit. Icah n is best known for unsuccessfully pushing BiogeIdec (Nasdaq: BIIB) to sell itself in 2008.
Last shareholders elected the company’es nominees over the slate of investors put up by Biogen Idec’s (NASDAQ: BIIB) stock was trading at $53.17 in afternoon trading Thursday, down from the previous day’sz close of $53.43 a share.