The game at MedImmune was over on Valentine's Day, we can now see, when Carl C. Icahn disclosed that he had bought stock in the Gaithersburg biotech company worth $89.8 million.
He didn't threaten a proxy fight against MedImmune until March, he later told The Washington Post, but he hardly needed to.
Mere news that Icahn has taken a stake in your company delivers as message as obvious as a severed horse's head: Place all or part of your company up for sale, or prepare for war.
On Monday, MedImmune agreed to sell itself to AstraZeneca for twice its stock market value from a few months earlier.
Profit for Icahn: $71 million.
More from Jay Hancock
He didn't threaten a proxy fight against MedImmune until March, he later told The Washington Post, but he hardly needed to.
Mere news that Icahn has taken a stake in your company delivers as message as obvious as a severed horse's head: Place all or part of your company up for sale, or prepare for war.
On Monday, MedImmune agreed to sell itself to AstraZeneca for twice its stock market value from a few months earlier.
Profit for Icahn: $71 million.
More from Jay Hancock
PS Buy the horse's head pillow here.
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