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Updated from 10:32 a.m. EDT Carl Icahn lost his battle to change the makeup of Biogen Idec's(BIIB - Cramer's Take - Stockpickr) board of directors. The activist shareholder's nominees were not elected at the biotech company's annual meeting Thursday. Biogen confirmed its win based on a preliminary count. Nominees Cecil Pickett, Lynn Schenk, Philip Sharp and Stelios Papadopoulos have all been elected. Alexander Denner, managing director of the Icahn investment vehicle Icahn Partners, congratulated the company on its win before Biogen had formally announced the results. Denner, along with Richard Mulligan and Anne Young, was one of Icahn's nominees. Biogen said on Thursday that based on the preliminary count the proposal to amend the company's bylaws to set the size of the board at 12 has also been defeated. Icahn has sought to muscle the rehanging of Biogen's for-sale sign with his nominees, scrutinizing the company's abandoned search for a suitor in fall of 2007. Shares, which initially sank 2% in early trading, were recently up 11 cents, or 0.2%, at $58.61.
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