ImClone board resists Icahn's call for directorial sackings
The directors of US drugmaker ImClone Systems have urged shareholders to reject billionaire investor Carl Icahn's proposal to replace several board members. The directors said that Mr Icahn's plan sought to remove the directors "without cause," and that, if successful, it would mean that five of the seven remaining members would have ties to him. The board believes that this would give Mr Icahn "unfettered" control of the firm.
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