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Reuters
Icahn claims Illumina directors got insurance to close Grail deal -FT
The billionaire investor’s claims, made in a letter to Illumina’s shareholder that the FT saw, come as he continues his push for board seats on the world’s largest genome sequencing company and for it to unwind the Grail acquisition. Illumina completed the takeover of Grail, which develops cancer detection tests, in August 2021, without winning U.S. or European regulatory approval, although it has since won U.S. clearance and is currently fighting for European approval. Icahn, in his letter, alleges that on the day before closing the deal, Illumina directors demanded the company commit to providing them with an “unprecedented level of additional personal liability insurance” protection, the FT reported.
