• Most Popular
  • Most Shared

Icahn accuses Biogen of attempting to hijack vote

CAMBRIDGE, Massachusetts
Wed Jun 3, 2009 11:46am EDT

Stocks

   

CAMBRIDGE, Massachusetts (Reuters) - Famed activist investor Carl Icahn blasted Biogen Idec Inc (BIIB.O) for recessing its shareholders meeting on Wednesday, accusing the biotech company of trying to hijack an election.

Deals

Biogen officials have recessed the contentious meeting -- where shareholders are voting on an Icahn-backed slate of directors -- for three hours.

"Shareholders should demand that this board finally act in their interest instead of just attempting to re-elect themselves," Icahn, who has not appeared at the meeting, said in a statement. "There is absolutely no reason to adjourn the meeting for hours in order to keep the polls open. Do not let them get away with hijacking the election."

He said the recess had been ordered in an effort by the board to keep his directors from being elected. Biogen officials said that not all shareholders had yet had the opportunity to vote.

(Reporting by Scott Malone; Editing by Lisa Von Ahn)



More from Reuters

Photo

Honda recalls another 438,000 cars for airbag risk

TOKYO/DETROIT (Reuters) - Honda Motor Co said it would recall another 438,000 cars globally to replace an airbag deflator that could rupture and send shards toward the driver in an accident.

An unknown Toyota car covered in preparation for the Chicago Auto Show, February 9, 2010. REUTERS/John Gress
SPECIAL REPORT:

What went wrong at Toyota?

An inside look at the spectacular crisis embroiling one of the world's best-known brands shows a series of unheeded warnings and a stubborn refusal to listen.  Full Article | Video