Biogen Idec Inc. (NASDAQ:BIIB) abruptly halted its shareholder meeting Wednesday morning. Discussion topic A: Carl Icahn's proposal to split the company in two, which management vehemently opposes.
According to a Reuters report from the scene, Biogen chairman Bruce Ross called the recess, and Alexander Denner, activist investor Icahn's right-hand man, called out, "This is not North Korea!"
Denner told The Boston Globe he believes the Icahn slate was "in a position to win at least one seat."
The maneuver suggests Icahn's proposal has gained traction among shareholders. The meeting, which is being held in Biogen's hometown of Cambridge, Mass., is reportedly set to resume later Wednesday. - Alex Lash
See story from The Boston Globe
See story from Reuters
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