Life Sciences, Carl Icahn, Proxy Battle

No Peace Between Amylin and Icahn

Juha-Pekka Tikka 4/22/09

San Diego’s Amylin Pharmaceuticals, which is embroiled in a proxy battle with billionaire investor Carl Icahn, disclosed today that settlement negotiations are being held. But the discussion could be summarized as, “Yes, we talked. No, there is no deal (and no cease-fire).” In its statement, which Amylin filed with the SEC, the company says talks were held by teleconference between representatives of Amylin, Icahn’s group and Eastbourne Capital Management “to discuss settlement options with respect to the proxy contest.” Icahn filed a separate statement with the SEC that also said the talks produced no settlement.