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Carl Icahn calls off the dogs hounding DNA-sequencing company Illumina

Mar 12, 2024

Carl Icahn has decided not to launch a fresh proxy fight at DNA sequencing company Illumina Inc. this year, a person familiar with the matter said.

The activist investor didn’t nominate directors for seats on the board of Illumina before a deadline to do so passed, the person said, asking not to be identified discussing confidential information.

A representative for Illumina declined to comment, while a spokesperson for Icahn Enterprises LP couldn’t immediately be reached for comment. Icahn’s decision was reported earlier on Tuesday by Reuters. 

Icahn considered nominating as many as seven candidates at Illumina, Bloomberg News reported in December, after blaming the company’s management for its handling of the failed acquisition of cancer detection startup Grail Inc.

Last year, the activist succeeded in having his nominee Andrew Teno elected to Illumina’s board.

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