Amylin Gets Carl Icahn Off Its Neck! (AMLN, IEP)

Banking, finance, and taxes

Published: April 25, 2012 2:26 pm

Last Updated: April 27, 2020 3:53 pm

Amylin Pharmaceuticals, Inc. (AMLN) is supposed to be getting a takeover offer soon, or at least it is expected to receive or disclose several possible bids soon. Now the company has one more bit of good news to count on. It has gotten billionaire and activist investor Carl Icahn to voluntarily dismiss a lawsuit that he brought on his behalf and on behalf of Icahn affiliates.

The lawsuit was seeking an extension of the deadline to nominate directors at the 2012 annual meeting of shareholders. The news may include Icahn Enterprises, L.P. (NASDAQ: IEP) as well.

Icahn said, “The decision to discontinue our lawsuit seeking to extend the director nomination deadline was the result of discussions I had with Daniel Bradbury, Amylin’s chief executive officer, that we agreed would not be publicly disclosed.”

What is interesting is that this is in the middle of a bidding process. This drives up the price of poker or it at least takes away one more hurdle that a would-be buyer might have had. It is unlikely that any buyer would have not bid just because Carl Icahn was involved. After all, everyone knows that Carl Icahn cares about three real goals here: getting a good price, getting a good price, and ultimately on getting a good price.

The note also said, “Mr. Icahn reiterated that he continues to strongly believe that the company should be sold at this time.” Duh!

Amylin shares are up 3.5% at $26.45 and today is a new 52-week high against a prior range of $8.03 to $26.25.

JON C. OGG

The Average American Has No Idea How Much Money You Can Make Today ^(Sponsor)

The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.

But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

¹https://www.fdic.gov/national-rates-and-rate-caps