No one wants to believe Carl Icahn’s offer of $15 B for Biogen- even when he says he will increase R&d Spending

CNN once referred him as shrewdest investor on the planet. Carl Icahn who is now in the eye of storm for his involvment to throw the board of Yahoo for rejecting bid offer from Microsoft. The Billionaire corporate raider has made a beeline for the Lifescience Industry.

Carl Icahn, embroiled in a proxy battle with Biogen Idec, offered to pay as much as $15 billion last year for the company, the largest maker of drugs for multiple sclerosis. This week his move to throw out the board of Biogen has been rejected by shareholders as they voted in favor of the biotech’s own slate of directors instead of those nominated by activist investor Carl Icahn.

Seems like no one wants to believe him when he says he will pump in more money into R&D. Really?

according to a memo to shareholders filed today with the ( SEC) Securities and Exchange Commission. Icahn wants to boost spending on research and development, improve employee morale, mend relations with partners, and possibly cut expenses outside research,

In the biggest biotechnology deal of 2007, Icahn pushed MedImmune Inc. to sell itself to London-based AstraZeneca Plc for $15.2 billion

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One Response

  1. […] Albin Paul Blogged about a good topic today on microarray.wordpress.comThe first paragraph is here: […]

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