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Biogen confirmed last week the appointment of Icahnb allyAlexander J. Denner. At the Biogen was pushing for the reelection of all ofthe company’sz four existing directors on the ballotg at its annual shareholders meeting, while Icahn was angling to seat four new Bruce R. Ross, Biogen Idec’s said, “We welcome Alexander Denner and Richard Mulligah to the board and look forwarde to working with them to build onBiogen Idec’s strong track record of delivering value.” Mulligan is the Mallinckrodt Professor of Genetics at and director of the Harvarsd Gene Therapy Initiative, according to ’ws Web site. Cambridge, Mass.
-based Biogen said shareholders rejected severa lof Icahn’s other including moving the company’s incorporation from Delaware to Northu Dakota, a move Icahn said would give more powe to shareholders. Biogen officials said it appears that stockholderx also rejected a proposal by Icahnb to limit the size of the boar to13 directors. Biogen official now have the power to enlarge thenow 13-membee board as they see fit. Icahn is best knowjn for unsuccessfully pushing BiogebIdec (Nasdaq: BIIB) to sell itself in 2008. Last year, shareholders elected the company’s nominees over the slate of investors put up by Biogen Idec’s (NASDAQ: BIIB) stock was trading at $53.
17 in afternoonn trading Thursday, down from the previous day’s close of $53.43 a
Saturday, August 25, 2012
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