Monday, April 16, 2007

Icahn No Longer Intends to Nominate an Opposing MedImmune (MEDI) Board

Carl Icahn said now that MedImmune's (Nasdaq: MEDI) board has announced it intends to sell the company, he no longer intends to put forth an opposition slate. Icahn said he will closely monitoring the Company's efforts and reserves the right to launch a proxy contest in the event that MedImmune does not successfully complete the sale transaction.

Several weeks ago Icahn informed the company he believed the best course of action was to put the company up for sale and planed to nominate an opposing slate at the upcoming 2007 annual meeting.

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