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.
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