Market Currents

• Monday, November 9, 2009

• 08:33 AM Enzon Pharmaceuticals (ENZN) to sell its specialty pharmaceutical business to the sigma-tau Group for $300M plus another $27M if it hits certain milestones. ENZN will also retain royalties of 5-10%on incremental net sales above a baseline amount. ENZN is halted. Comment!

• Thursday, October 22, 2009

• 13:56 PM Why aren't you blogging, Carl Icahn? "I've been sort of busy. And right now, with the market up, there's not as much interest in corporate governance like there was a couple of months ago." Damien Park notes Carl's been among the most active of activists, seeking board seats at Enzon Pharmaceuticals (ENZN), Biogen (BIIB), Amylin (AMLN) and Lions Gate (LGF), and contuining to pester Yahoo (YHOO). 1 Comment

• Friday, May 29, 2009

• 08:10 AM Next stop Biogen: Carl Icahn's fight for seats on the board of Biogen Idec (BIIB) comes to a vote Wednesday, June 3. He owns 5.6% of the biotech group. Proxy advisory service RiskMetrics Group is backing two of Icahn's nominees. Icahn gained a seat on Amylin's (AMLN) board this week and is lobbying to ouster top management at Enzon (ENZN). 1 Comment

• Tuesday, May 26, 2009

• 09:18 AM A new activist-investor attack on Enzon Pharmaceuticals (ENZN), led by Carl Icahn, is based on an obscure law that allows investors to lobby fellow shareholders for 51% of their votes in a one-time referendum to ouster top management. A win could have broad implications. Comment!