Icahn says sues Amylin, urges sale

Reuters – 1 hr 6 mins ago (Reuters) - Carl Icahn said on Monday he has sued Amylin Pharmaceuticals Inc to obtain more time to nominate a slate of directors he hopes will push the maker of diabetes drugs to put itself up for sale.

Icahn, whose 8.9 percent stake has made him the company's third-largest shareholder, has faulted Amylin for failing to acknowledge media reports that it had rejected a roughly $3.5 billion takeover bid by Bristol-Myers Squibb Co.

The lawsuit was filed in Delaware, Icahn said. A copy of the complaint was not immediately available.

Amylin shares were down 49 cents, or 2 percent, at $23.63, at midday.

(Reporting By Jonathan Stempel in New York; Editing by Richard Chang)

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