Icahn poised to win at least one seat on Illumina’s board

Reuters was first to report that activist investor Carl Icahn had won enough Illumina Inc. shareholder support to install one of his nominees to the gene sequencing machine maker’s board of directors. Illumina’s market value of $30 billion made this the biggest board battle of the year, which came as Icahn seeks to reassert his acumen following a shortseller attack on his investment firm. Illumina subsequently confirmed the outcome of the board fight, which led to its shares dropping more than 10%.