Icahn Raises His Stake in Biogen

Billionaire investor reported August 11 that he owns a 6.03 percent stake in the common stock of biotechnology company Biogen Idec, according to a Reuters report.

Icahn said in a Securities and Exchange Commission filing that he increased his stake “in the belief that the shares were undervalued.”

Icahn said his funds may need additional Biogen shares, debt, or other equity. He also said his representatives may continue to hold discussions with the company to "discuss general business issues relating to the issuer as well as their concerns relating to shareholder value,” according to Reuters.