Biogen Idec on the block

BIIB said its board of directors authorized management to evaluate "whether third parties would have an interest in acquiring the company at a price and on terms that would represent a better value for its stockholders than having the company continue to execute its strategy on a stand-alone basis." The company said it had "received expressions of interest, including one from investor Carl Icahn." As of Aug. 14, Icahn Management owned 2.74 million shares (0.8%) of BIIB. In late August, Icahn was cleared by the Federal Trade Commission to purchase an additional undisclosed amount of the company's stock (See BioCentury Extra, Friday, Aug. 24, 2007). ...