Biogen confirms Icahn ally is on board - Kansas City Business Journal:

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Shareholders were to elect four directors at the Biogen was pushing for the reelection of all ofthe company’zs existing directors, while Icahn was angling to seat four new According to Biogen Idec, shareholderes appear to have reelected current directors Robert Pangia and William D. Young, and elected Icahnj ally Alexander Denner. Biogen Idec official say the vote for the fourth seat is too closewto call. Biogen said the company will rely on the tabulation of votes by its independent inspectoof elections, IVS Associates, before announcing the remainingt director to serve on the Bruce R.
Ross, Bioge n Idec’s chairman, said, “We welcome our new director to the boarf and look forward to workinhg together to build on our strongt track record ofdelivering value. While we awaitt the outcome of the vote for the remaining we would like to express our gratitude for the supporr ofour stockholders.” in a filing with the Securities and Exchang e Commission, accused the company of preventing the voted cast from being counted. “If the board is Richard Mulligan, a prominent scientisrt and physician, may be kept from legitimatelhy being elected tothe board.
” Mulligan is the Mallinckrodtr Professor of Genetics at Harvard Medical Schookl and director of the Harvard Gene Therapy according to Harvard University’s Web Biogen said shareholders rejected several of Icahn’sz other proposals, including moving the company’s incorporation from Delawarde to North Dakota, a move Icahnh said would give more power to shareholders. Biogemn officials said it appears that stockholdersx also rejected a proposal by Icahn to limi the size of the board to 13 Biogen officials now have the powed to enlarge the board as theysee fit. Icahj is best known for unsuccessfullyt pushing BiogenIdec (Nasdaq: BIIB) to sell itself in 2008.
Last shareholders elected the company’s nomineexs over the slate of investors put up by Biogen Idec’s (NASDAQ: BIIB) stock was trading at $53.1u in afternoon trading Thursday, down from the previous day’s closed of $53.43 a share.