Carl Icahn isn’t getting everything he wants, at least not yet. ImClone Systems Inc. responded to its most famous shareholder’s latest attacks by giving him a board seat but keeping chairman David Kies, despite Icahn’s continued public thrashing of him.
The company’s 12-member board, which now includes Icahn and three allies, also voted Thursday, after the annual shareholder meeting to expand the minimum number of members needed to make decisions. The so-called quorum has been raised from four to six, putting the threshold just beyond the reach of Icahn’s faction.
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