Biogen Idec slate snubs Icahn's nominees

Biogen Idec Inc. of Cambridge, Mass., said Thursday it would nominate four directors for the upcoming annual shareholder meeting, none of which are part of dissident investor Carl Icahn's nomination slate.

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The firm's decision is a rejection of Icahn, who tried to maneuver the company into a sale last fall, to no avail. Claiming Biogen executives sabotaged the sale process, Icahn is pressing a proxy fight and suing to gain access to documents, including board meeting minutes, to shed light on the failed auction.

Three of Biogen's nominees are returning directors, and one, former investment banker and biotech veteran Stelios Papadapoulos, would be new to the company. A date for the annual meeting has not been announced. - Alex Lash

See press release
See earlier story from Dealscape
See earlier story from TheDeal.com
See Dealwatch: Carl Icahn

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