Icahn's BEA, Biogen juggle

Activist investor Carl Icahn is a busy man, who is not only attempting to push software company BEA Systems Inc. to sell, but also is pushing for a sale at Cambridge, Mass., biotechnology company Biogen Idec Inc.

Monday's Wall Street Journal features an update on Icahn's activities at Biogen Idec. Despite skepticism amongst Wall Street analysts about Biogen Idec's pipeline, Icahn is upbeat about its future drugs saying it is an ideal takeover candidate for a Big Pharma.

Meanwhile, Icahn is threatening to sue BEA, which responded Monday morning by sending its biggest shareholder a letter saying it is still looking at ways to maximize shareholder value, including a possible sale. The software company allowed a $17 a share offer from Oracle Corp. to expire on Sunday. — Matthew Wurtzel

See BEA Systems story from TheDeal.com
See Biogen Idec story from Wall Street Journal (subscription may be required)
See Icahn Dealwatch

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