Icahn Increases Stakes in Biotech Bets

January 29th, 2009
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SEC filings revealed today that Carl Icahn has increased his stakes in Amylin (AMLN) to 12.1 million shares (8.8%) and Enzon Pharmaceuticals (ENZN) to 3.5 million shares (7.8%).

Icahn is planning to nominate a slate of five directors for Amylin’s board. In addition to Icahn's nominees, another activist Eastbourne Capital, which owns over 12% of Amylin’s shares out, is seeking to elect its own slate of five directors.

Icahn has also nominated a director who is affiliated with his hedge fund for Enzon’s board. In August 2008, Enzon’s executives had stated that they were interested in pursuing Icahn’s demand that they sell or spin-off parts of Enzon’s business. However, in December, the management team reversed course saying that current market conditions had forced them to abandon a spin-off strategy.

. Enzon has also been targeted by another shareholder activist, DellaCamera Capital Management, which currently holds a 7.5% stake in the company.
For Detailed Investor Profiles on these Investors, click below:
Icahn Associates (Carl Icahn)
Eastbourne Capital Management
DellaCamera Capital Management
Related People: Alexander J. Denner; Andrew J. Kurtz; Brett Icahn; Carl Icahn; Keith A. Meister*; Ralph DellaCamera; Richard Mansouri; Rick Barry
Related Entities: Black Bear Hedge Funds; DellaCamera Capital Advisors; DellaCamera Capital Partners LP; DellaCamera Options Inc; High River Limited Partnership; Icahn Partners; Icahn & Co Inc; Icahn Associates; Icahn Enterprises (formerly American Real Estate Partners); Icahn Fund Ltd; Icahn Partners LP; Robertson Stephens*
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles; Hedge Fund Launches and Hedge Fund Closings

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