Bloomberg Law
March 24, 2023, 8:06 PM

Icahn Blasts Illumina’s Board Over Grail Purchase (1)

Angelica Peebles
Angelica Peebles
Bloomberg News

Billionaire investor Carl Icahn upped his criticism of Illumina Inc.’s acquisition of Grail Inc., saying in his latest attackthat its board set a “new low” in governance by pursuing the deal over antitrust regulators’ objections.

Illumina’s board of directors “elected voluntarily to declare war on antitrust regulators” by closing the $7 billion transaction in 2021 even as the EU moved to block it, Icahn said in a letter published Friday. Board members sought to protect themselves by taking out “an unprecedented level” of additional personal liability protection when the deal closed, Icahn said, citing a Securities and ...

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