Carl Icahn prepares for proxy fight at Illumina - WSJ

Activist investor Carl Icahn is preparing a proxy fight at Illumina Inc, arguing that the biotechnology company cost its shareholders roughly $50 billion by plowing ahead with a risky acquisition despite opposition from regulators, the Wall Street Journal reported on Sunday. The billionaire plans to nominate three people to the company's board, the report said, citing a letter Icahn plans to send to Illumina's shareholders on Monday.

Carl Icahn and Illumina did not immediately respond to a Reuters request for comment.

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