Icahn Gets 2 Seats On Genzyme Board In Proxy Deal

Law360, New York (June 9, 2010, 10:56 AM EDT) -- Genzyme Corp. and billionaire investor Carl C. Icahn on Wednesday reached a settlement in their proxy dispute, a week before the troubled biotechnology company's annual shareholder meeting.

Icahn and his funds agreed to vote for Genzyme's slate of directors, which will include two Icahn nominees, Steven Burakoff and Eric Ende. In return, Icahn agreed to withdraw a rival slate of four nominees.

The shareholder meeting is set for June 16.

Genzyme stock has been battered over the past year because of production problems at its Allston,...
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