Carl Icahn is preparing a proxy fight at Illumina, arguing the biotechnology company cost its shareholders roughly $50 billion by plowing ahead with a risky acquisition despite opposition from regulators
Carl Icahn is preparing a proxy fight at Illumina Inc., arguing the biotechnology company cost its shareholders roughly $50 billion by plowing ahead with a risky acquisition despite opposition from regulators.
The billionaire activist plans to nominate three people to the San Diego, Calif., company’s board, according to a letter Mr. Icahn plans to send to Illumina’s shareholders Monday that was viewed by The Wall Street Journal.
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