The Illumina Shareholder Votes Are In, And Nobody Got What They Wanted

Carl Icahn was successful in ousting Illumina’s chair, however its CEO, Francis deSouza remains. Both analysts and investors believe this could further encourage Illumina to divest Grail.

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After weeks of back-and-forth accusations between billionaire “corporate raider” Carl Icahn and the board of sequencing-tech giant Illumina, shareholders finally got the chance to vote on the company’s future.

The vote decided who would occupy three seats on Illumina’s nine-member board. Icahn wanted to change the CEO, the chairman and the director of the board. Illumina countered by recommending...

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