Illumina, the DNA sequencing giant whose stock has fallen 40% in two years, already had problems. Now it has to contend with Carl Icahn.
The granddaddy of activist investors announced Monday morning that he’s taken a stake in Illumina and wants three handpicked directors added to the company’s board. The message Illumina’s management should hear is this: Icahn usually gets much of what he wants. He tends to leave investors in better shape than before he arrived. But he is not always so kind to existing management teams.