Interesting battle to watch here...what is the story behind Biogen...will it be sold someday...what happened to the interest from the big Pharma folks...and then there's the Yahoo - Microsoft case that also keeps everyone on the edge of their seats with Mr. Icahn...BD
There’s nothing like a proxy fight to feel alive. In a letter to the Securities and Exchange Commission, Carl proposes three board members for Biogen Idec and vows that “we are not seeking to immediately sell the company. Because of the failed sales process, we do not believe that now is the time to initiate another process.”
Icahn prompted the episode by snapping up a chunk of the biotech and continues to complain that Biogen execs “doomed” a sale from the start. How so? He carps that they made it difficult for would-be buyers to explore Biogen’s key relationships with Elan and Genentech.