Monday, August 14, 2006

Carl Icahn Raises Stake in Imclone (IMCL), Asked to be on Management's Slate of Directors at Annual Meeting

In an amended 13D filing on Imclone Systems Inc. (Nasdaq: IMCL), Carl Icahn and related funds disclosed an 11.68% stake (9.84 million shares) in the company, which is higher than the 9.95% stake the group disclosed in a past filing.

In the filing the group said they have continued engaging in discussions with company concerning its business and operations. The group also said Carl Icahn has been invited by the Company to be on Management's slate of directors at the annual meeting which is planned to be held in September 2006. Mr. Icahn has not yet made a determination with respect to the foregoing or any other course of action.


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