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Drug developer Biogen Idec Inc. has been notified that activist investor Carl Icahn intends to nominate three candidates for the company’s board of directors. Icahn’s also submitted a proposal to freeze Biogen’s board at 12 members, according to a regulatory filing.
Icahn’s potential board candidates are Thomas F. Deuel, Eric K. Rowinsky and Richard A. Young.
Biogen said its board “will evaluate the nominees and the proposal and make a recommendation in the best interests of all shareholders.” The Cambridge-based biotech (Nasdaq: BIIB) said four director seats are up for re-election at its upcoming annual meeting.
Icahn’s firm, Icahn Partners, and its affiliates own 16.1 million Biogen shares, or 6 percent of the company’s shares outstanding. He submitted similar proposals to overhaul Biogen’s board in 2008 and 2009, when Icahn successfully seated two of his allies.
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