Illumina responds to latest salvo from Carl Icahn
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Illumina (NASDAQ:ILMN) has responded to a letter sent by Carl Icahn Friday morning accusing the company's directors of demanding extra personal liability insurance before closing its acquisition of GRAIL.
"All major U.S. public companies, including Illumina (ILMN), regularly review their [directors and officers] insurance to reflect appropriate coverage," the company said in a statement. "To keep investors informed, Illumina (ILMN) regularly shares relevant corporate risk factors, including those related to GRAIL. Any suggestion otherwise is a mischaracterization of the facts."

Icahn is in a proxy fight with Illumina (ILMN) over its decision to close the GRAIL deal despite regulatory concerns.
"Mr. Icahn's nominees lack relevant skills and experience for Illumina's (ILMN) Board," the company said. Mr. Icahn has no ability to accelerate the legal and regulatory processes and neither do his nominees.