Icahn accuses Biogen Idec of trying to hijack director election

By Lisa Kerner

Charlotte, N.C., June 3 - Biogen Idec Inc. shareholder Carl Icahn accused the company's board of directors of "acting in its usual shareholder unfriendly way" following Biogen's annual meeting on Wednesday.

According to Icahn, Biogen is trying to prevent the votes that have been submitted at the meeting from being counted in an attempt to keep two of Icahn's director nominees from winning seats on Biogen's board.

"There is absolutely no reason to adjourn the meeting for hours in order to keep the polls open," an Icahn statement said.

Icahn accused the Biogen board of "hijacking the election" and keeping shareholders from "entering into the board's private club."

Biogen shareholders, said Icahn, should demand that the board act in shareholders' interests instead of seeking to re-elect its members.

Icahn nominated Dr. Alexander J. Denner, Richard C. Mulligan, Thomas J. Deuel and David Sidransky for election to the Cambridge, Mass., pharmaceutical company's board.

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