Another man skilled in the arts of war and military tactics
Billionaire corporate raider (a title we plan to use whenever possible, and acquire for ourselves in due course) Carl Icahn has his sights set on Amylin Pharmaceuticals. With another investor, he controls 20% of the company and is launching a proxy for control of the board. He may or may not be planning to force a sale of the company if he gets control – he says no, company says he will - but he definitely wants management out.
How badly can he dislike management if he doesn’t know who the CEO is?
According to a proxy filing by the company, Icahn asked the lead independent director “Who is Dan Bradbury?” The director’s answer:
Dan Bradbury is Amylin’s President and Chief Executive Officer. Dan has been our CEO since March 2007, serving as President since June 2006 and as Chief Operating Officer since June 2003. Prior to joining Amylin in 1994, Dan worked for 10 years at SmithKline Beecham Pharmaceuticals in sales and marketing positions. Dan has met with your colleague Alex Denner on a number of occasions.
Hopefully this letter provides you with additional clarity about the Company and demonstrates that the issues you have raised have been carefully considered by our Board and management. We believe that a meeting with Dan Bradbury and myself would go a long way in helping you to better understand Amylin’s business and our strategy.
Actually, we think it makes for a nice soundbite, but the tone was probably more like how Longshanks asks his son “Who is this person who speaks to me as though I needed his advice?” You’ll recall that one ended with the advisor taking a long fall out the window followed by a sudden stop in the courtyard.
Icahn, of course, can and will speak for himself. The man who launched United Shareholders of America plans to rebut with a press release of his own. We hope he quotes Braveheart.
Amylin, by the way, has a “poison put” in place, which is one of the hot topics in defensive strategies these days.
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LS – you have reached the new hotness with that pic and post, including Longshanks (LS namesake?!?!!?!) quote and hyperlink. RESPEK.
I agree. You get some respect.