Carl Icahn vs Illumina: Danger Ahead
Carl Icahn vs Illumina – it’s turned into a urination contest as Illumina decides to go head first against Wall Street’s most notable activist investor, Carl Icahn. The Illumina GRAIL merger might be one of the most obvious missteps we’ve ever seen during our decades long journey through tech investing. Going against regulators in multiple jurisdictions despite their warnings is impudent and just plain irresponsible. Illumina’s new CEO seems more focused on rubbish like DEI and ESG instead of focusing on bringing new products to market through smart R&D spending (Illumina’s R&D spending is increasing while innovation is decreasing). We look at Carl Icahn’s plan for Illumina and the long list of criticisms he’s leveled at a management team that largely seems stubborn and incompetent.
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