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Biogen says one Icahn rep elected to board

Thu Jun 4, 2009 11:55pm IST
 
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NEW YORK (Reuters) - Biogen Idec Inc (BIIB.O: Quote, Profile, Research) said on Thursday a preliminary count from its annual meeting showed one representative from dissident shareholder Carl Icahn's slate was elected to the board.

The biotechnology company said two directors were re-elected, while results were too close to call for a fourth seat.

The preliminary totals come a day after a contentious shareholder meeting in which Icahn's group said it believed it had enough votes to claim two of the four seats it had sought on the 13-member board.

Alexander Denner, a representative of the activist billionaire investor, was elected to the board, Biogen said.

"We welcome our new director to the board and look forward to working together to build on our strong track record of delivering value," Biogen Chairman Bruce Ross said in a statement.

Re-elected were Robert Pangia and William Young. The company said it will rely on the tabulation of votes by its independent inspector of elections, IVS Associates, before announcing the remaining director.

Biogen shares fell 5 cents to $53.38 on Nasdaq at mid-afternoon.

(Reporting by Lewis Krauskopf; Editing by Richard Chang)

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