Illumina board tells shareholders to ignore Carl Icahn's 'unfit associates'

• Illumina's (NASDAQ:ILMN) board of directors on Monday issued a letter to shareholders urging them to reject three nominees backed by investor Carl Icahn.
• The letter states that the three men, Jesse Lynn, Andrew Teno, and Vincent Intrieri "would detract from Illumina's (ILMN) long-term strategy."
• The letter also takes aim at a recent disclosure that the U.S. Attorney's Office for the Southern District of New York is investigating Icahn Enterprises (IEP). The letter notes that Lynn and Teno work for that company.
• In addition, the letter notes a recent short report issued by Hindenburg Research.
• "Icahn's nominees bring NO additive skills, NO relevant industry experience, and NO independence from Icahn," the board argues. "His nominees have no successful operating experience in senior management roles, unlike many of Illumina's (ILMN) directors (including those he is seeking to replace).
• The letter also cited a report issued Friday by Institutional Shareholder Services backing the board slate and rejecting all but one of Icahn's nominees.

More on Illumina and Carl Icahn

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