Icahn Tries To Bully Biogen

Law360, New York (April 9, 2008, 12:00 AM EDT) -- On the heels of his success with Motorola Inc., billionaire activist investor Carl Icahn has sued Biogen Idec Inc. in hopes of compelling the biotechnology giant to turn over documents regarding its botched sale attempt last year.

Icahn filed suit Tuesday against Biogen in Delaware Chancery Court, trying to use his legal powers of persuasion to force the company’s hand.

The activist shareholder is seeking permission to scour documents surrounding Biogen’s failed 2007 sale to lend more weight to his argument that Biogen did not sell...
To view the full article, register now.