Icahn Makes a Move on Biogen’s Board

(NewsVisual, powered by IntellectSpace)-- Biogen Idec Inc (NYSE: BIIB) may be facing a takeover if billionaire activist investor Carl Icahn has anything to say about it.

Yesterday Icahn pushed for the appointment of three new directors and claimed that Biogen isn’t doing enough to promote a sale. Using his 4.2% stake in the company as leverage, the New York investor could be well on his way to controlling the board if his director nominations are successful, according to The Wall Street Journal. Icahn is convinced that Biogen is a hot takeover target for Big Pharma, though Biogen’s board isn’t so sure.

NewsVisual created and IntellectSpace Knowledge Map of the Directors that may or may not choose to back Icahn’s nominees and his plans for a quick sale of the company.

Nearly every Director at Biogen is shown to currently hold significant leadership positions at other corporate entities, especially in health and science related sectors. Biogen President and CEO James C Mullen is a Director at PerkinElmer Inc, and fellow Director William Young has notable past and current board and senior executive ties to Theravance, Genetech and Monogram Biosciences, where he is the Chaiman/CEO. Marijin E Dekkers is the President and CEO of ThermoFisher Scientific and Lawrence C Best has senior leadership experience with Boston Scientific, Ernst & Young and Haemonetics.

Carl Icahn may have recognized the value in these connections in trying to pursue a sale of the company. The board’s multiple ties to a number of pharmaceutical, health and science-related industries could likely factor into a takeover, and no doubt Icahn’s own nominees will have additional important industry connections to add to the mix.

Readers, what do you think of Carl Icahn’s big push to get Biogen Idec sold?

Click here or copy this link into your Internet Explorer browser for an interactive version of this IntellectSpace Knowledge Map: http://nv.intellectspace.com/ispace/GuestMonitor.aspx?id=9a46f58f-1ff9-4509-9e63-c741c962ad67

See article from The Wall Street Journal (subscription required)