Biogen confirms Icahn ally is on board - San Antonio Business Journal:

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Shareholders were to elect four directorsx atthe meeting. Biogen was pushinvg for the reelection of all ofthe company’s existing while Icahn was angling to seat four new According to Biogen Idec, shareholders appear to have reelectede current directors Robert Pangia and William D. Young, and elected Icahn ally Alexander Biogen Idec officials say the vote for the fourthu seat is too close to Biogen said the company will rely on the tabulationb of votes by its independenty inspectorof elections, IVS Associates, befors announcing the remaining director to serve on the board. Bruce R.
Biogen Idec’s chairman, said, “We welcomr our new director to the board and look forward to workingh together to build on our strong trackj record ofdelivering value. While we await the outcom of the vote for theremaininbg director, we would like to express our gratitudew for the support of our stockholders.” Icahn, in a filingv with the Securities and Exchange Commission, accusedx the company of preventing the votes cast from beingb counted. “If the board is successful, Richar d Mulligan, a prominent scientist and may be kept from legitimately beinh elected tothe board.
” Mulligan is the Mallinckrodt Professoer of Genetics at Harvard Medical School and directord of the Harvard Gene Therapy according to Harvard University’s Web site. Biogen said shareholdere rejected severalof Icahn’s other proposals, includiny moving the company’s incorporation from Delaware to Norty Dakota, a move Icahn said woulfd give more power to shareholders. Biogenj officials said it appears that stockholders also rejectede a proposal by Icahn to limit the size of the boars to13 directors. Biogebn officials now have the power to enlarge the boardx as theysee fit. Icahn is best know n for unsuccessfully pushing BiogenIdec (Nasdaq: BIIB) to sell itselff in 2008.
Last year, shareholderws elected the company’s nominees over the slate of investors put up by Biogen Idec’s (NASDAQ: stock was trading at $53.178 in afternoon trading Thursday, down from the previou day’s close of $53.423 a share.