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Icahn nominates new directors to Forest Labs board

AP News
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Posted: May 30, 2012 6:11 PM
Icahn nominates new directors to Forest Labs board

Billionaire investor Carl Icahn is proposing a new slate of directors to the board of drugmaker Forest Laboratories Inc.

In a form filed with the Securities and Exchange Commission, Icahn says he will nominate an undisclosed number of candidates to the board of directors, including former Merrill Lynch biotechnology analyst Eric Ende.

Icahn nominated Ende and three other candidates for places on the board in 2011. However, shareholders rejected those candidates in favor of the directors backed by Forest.

The Icahn Capital Partners founder owns 26.4 million shares of Forest, or a 9.9-percent stake in the New York company. Icahn is the second-largest holder of Forest shares.