BUSINESS BRIEFING / BIOTECHNOLOGY
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Activist investor Carl Icahn claimed two victories in his fight to place dissident shareholders on Biogen Idec Inc.’s board, but the biotechnology company has not yet finished tallying votes.
Icahn wants to seat four shareholders on Biogen’s 13-member board as part of a years-long dispute with the company’s direction. The proxy fight culminated in Biogen’s annual meeting in Cambridge, Mass., but the company recessed for most of the day, saying it needed to give shareholders more time to vote.
Icahn says his portfolio manager, Alexander J. Denner, and Richard C. Mulligan, a Harvard Medical School professor, were elected.
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