Shareholders are set to vote on Thursday whether to back the gene-sequencing company’s incumbent board or candidates named by the activist investor.
One of the biggest fights in corporate America is coming to a head on Thursday: Shareholders in Illumina, the gene-sequencing giant, are set to vote on whether to back the company’s incumbent directors or candidates nominated by the billionaire Carl Icahn.
A board fight involving one of Wall Street’s top activist investors is significant in its own right. But there’s more at play here, including a takeover that has tested antitrust regulators on both sides of the Atlantic and new proxy rules that could reshape American corporate governance.
A $7 billion deal for Grail is a major factor in this scuffle.
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