Activist investor Carl Icahn is planning a proxy fight at Illumina, The Wall Street Journal’s Lauren Thomas and Cara Lombardo report. According to a letter Icahn plans to send to Illumina’s shareholders Monday that was viewed by the publication, Icahn, who is arguing that the company cost its shareholders roughly $50B by moving ahead with a risky acquisition despite opposition from regulators, is planning to nominate three people to Illumina’s board. Icahn says in the letter that he tried to strike a deal with Illumina to avoid a proxy battle. "Illumina has a diverse, experienced board comprised of directors who bring a range of perspectives to the company and represent the interests of its stockholders," the company said in a statement. Reference Link
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on ILMN:
- Billionaire Carl Icahn Could Lock Horns with Illumina (NASDAQ:ILMN)
- Myriad Genetics, Illumina expand partnership for HRD testing access
- Illumina and Myriad Genetics partner for HRD testing in the U.S.
- Illumina price target lowered to $240 from $255 at UBS
- Illumina price target lowered to $235 from $285 at Stifel