Biogen Idec confirms Icahn ally is on board - Triangle Business Journal:

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Shareholders were to elect four directors at the Biogen was pushing forthe re-election of all of the company’as existing directors, while Icahn was angling to seat four new According to Biogen Idec, shareholders appeatr to have re-elected current directords Robert Pangia and William D. Young, and electesd Icahn ally Alexander Denner. Biogen Idec officials say the vote for the fourtu seat is too closseto call. Biogen said the compang will rely on the tabulation of votew by its independent inspector of IVS Associates, before announcing the remaining director to serve on the Bruce R.
Ross, Biogen Idec’s chairman, said, “W welcome our new director to the board and look forwardd to working together to build on our stronvg track record ofdelivering value. While we await the outcome of the vote for theremaininhg director, we would like to express our gratitudee for the support of our Icahn, in a filinh with the U.S. Securities and Exchange Commission, accused the companyh of preventing the votea cast frombeing counted. “If the board is successful, Richard Mulligan, a prominengt scientist and physician, may be kept from legitimatelyt being elected tothe board.
” Mulliganj is the Mallinckrodt Professor of Genetics at Harvared Medical School and director of the Harvard Gene Therapy Initiative, according to Harvard University’s Web site. Bioge n said shareholders rejected severalof Icahn’s other proposals, including moving the company’s incorporation from Delaware to North Dakota, a move that Icahnj said would give more power to shareholders. Biogen officialss said it appears that stockholderas also rejected a proposal by Icah n to limit the size of the board to 13 Biogen officials now have the power to enlargew the board as theysee fit.
Icahn is best known for unsuccessfullh pushing BiogenIdec (Nasdaq: BIIB) to sell itself in 2008. Last shareholders elected the company’s nominees over the slate of investora put upby Icahn. Shares of Biogen Idec (Nasdaq: closed trading Thursday at $53.15, down 0.5 percent. The company employs 825 people at its manufacturing facilitu in ResearchTriangle