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Icahn: Won't Nominate Opposing Directors at MedImmune Meeting

Billionaire investor Carl Icahn said Monday he no longer intends to put forth an opposition slate of directors at MedImmune's upcoming annual meeting after the biotechnology company announced last week it is exploring a sale.

Icahn, who in February disclosed that he owns 2.8 million shares of MedImmune, said he reserves the right to launch a proxy contest should MedImmune not complete a sale.