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 reelectioh of all ofthe company’s existingy directors, while Icahn was angling to seat four new director. Accordinhg to Biogen Idec, shareholders appear to have reelected curren directors Robert Pangia andWilliam D. Young, and electedf Icahn ally Alexander Denner. Biogen Idec officialxs say the vote for the fourth seat is too close to Biogen said the company will rely on the tabulatiob of votes by its independenft inspectorof elections, IVS Associates, before announcing the remaining director to serve on the board. Bruce R.
Biogen Idec’s chairman, said, “W welcome our new director to the board and look forward to working togethefr to build on our strong track recordc ofdelivering value. While we await the outcomes of the vote for the remaining we would like to express our gratitudde for the support ofour Icahn, in a filing with the Securities and Exchange Commission, accusede the company of preventing the votex cast from being counted. “If the boarc is successful, Richard Mulligan, a prominent scientisg and physician, may be kept from legitimateluy being elected tothe board.
” Mulligan is the Mallinckrodtf Professor of Genetics at Harvard Medica l School and director of the Harvard Gene Therapy Initiative, accordiny to Harvard University’s Web site. Biogen said shareholderx rejected severalof Icahn’sw other proposals, including moving the company’se incorporation from Delaware to North Dakota, a move Icahm said would give more power to shareholders. Biogen officialse said it appears that stockholders also rejected a proposal by Icahn to limit the size of the board to 13 Biogen officials now have the power to enlarge the board as theysee fit. Icahnh is best known for unsuccessfull y pushing BiogenIdec (Nasdaq: BIIB) to sell itself in 2008.
Last 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 afternoobn trading Thursday, down from the previouss day’s close of $53.43 a share.