Biogen confirms Icahn ally is on board - Boston Business Journal:

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Shareholders were to elect four directors at the Biogen was pushing for the reelection of all ofthe company’ existing directors, while Icahn was anglinfg to seat four new According to Biogen Idec, shareholders appear to have reelectedd current directors Robert Pangia and William D. Young, and elected Icahm ally Alexander Denner. Biogen Idec officials say the vote for the fourthh seat is too close to Biogen said the company will rely on the tabulatiohn of votes by its independent inspectofrof elections, IVS Associates, befor announcing the remaining director to serve on the board. Bruce R.
Biogen Idec’s chairman, said, “We welcome our new directoe to the board and look forward to workingh together to build on our strong track recorxd ofdelivering value. While we await the outcomer of the vote for the remaining we would like to expres s our gratitude for the support ofour Icahn, in a filing with the Securities and Exchangs Commission, accused the company of preventing the votez cast from being counted. “If the board is successful, Richard Mulligan, a prominentt scientist and physician, may be kept from legitimately beingg elected tothe board.
” Mulligan is the Mallinckrodgt Professor of Genetics at Harvard Medica School and director of the Harvard Gene Therapgy Initiative, according to Harvard University’s Web site. Biogen said shareholderws rejected severalof Icahn’s other proposals, including moving the company’s incorporation from Delaware to Nortj Dakota, a move Icahn said would give more power to Biogen officials said it appearse that stockholders also rejected a proposal by Icahn to limi the size of the boared to 13 directors. Biogen officials now have the power to enlargse the board as theysee fit. Icahn is best known for unsuccessfully pushing BiogenIdec (Nasdaq: BIIB) to sell itseltf in 2008.
Last year, shareholders elected the company’s nomineeas over the slate of investors put up by Biogen Idec’s (NASDAQ: BIIB) stock was trading at $53.17 in afternoobn trading Thursday, down from the previous day’s closd of $53.43 a share.