Icahn Is Ready to Launch a Fight to Control Illumina’s Board

Billionaire Carl Icahn plans to launch a new proxy fight to take control of Illumina Inc.’s board in the wake of the company terminating its $7 billion acquisition of Grail Inc., according to people familiar with the matter.

Icahn believes the board should be held accountable for pursuing an ill-advised transaction, said the people, who asked not to be identified because the information was private. Icahn could nominate as many as seven candidates for the currently 11-member board, they said.