-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NVoNjILh/txKSMhTj05nSsIpqQhqn9We67rAatykeUhBDlg5emk6r5aLlwRKHCsF q2WFS/Vkm/XXhYUa2dOd9A== 0000903423-02-000218.txt : 20020415 0000903423-02-000218.hdr.sgml : 20020415 ACCESSION NUMBER: 0000903423-02-000218 CONFORMED SUBMISSION TYPE: DFAN14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020403 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ICN PHARMACEUTICALS INC CENTRAL INDEX KEY: 0000930184 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 330628076 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: DFAN14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-11397 FILM NUMBER: 02601116 BUSINESS ADDRESS: STREET 1: 3300 HYLAND AVE CITY: COSTA MESA STATE: CA ZIP: 92626 BUSINESS PHONE: 7145450100 MAIL ADDRESS: STREET 1: 3300 HYLAND AVE CITY: COSTA MESA STATE: CA ZIP: 92626 FORMER COMPANY: FORMER CONFORMED NAME: ICN MERGER CORP DATE OF NAME CHANGE: 19940915 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FRANKLIN MUTUAL ADVISERS LLC CENTRAL INDEX KEY: 0001023875 IRS NUMBER: 223463202 STATE OF INCORPORATION: DE FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: DFAN14A BUSINESS ADDRESS: STREET 1: 51 JOHN F KENNEDY PARKWAY CITY: SHORT HILLS STATE: NJ ZIP: 07078 BUSINESS PHONE: 2019122088 MAIL ADDRESS: STREET 1: 51 JOHN F KENNEDY PARKWAY CITY: SHORT HILLS STATE: NJ ZIP: 07078 FORMER COMPANY: FORMER CONFORMED NAME: FRANKLIN MUTUAL ADVISERS INC DATE OF NAME CHANGE: 19960928 DFAN14A 1 franklin14a_4-3.txt SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant |_| Filed by a Party other than the Registrant |X| Check the appropriate box: [ ] Preliminary Proxy Statement [ ] Confidential, for Use of the [ ] Definitive Proxy Statement Commission Only (as permitted by [ ] Definitive Additional Materials Rule 14a 6(e)(2)) [X] Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12 ICN PHARMACEUTICALS, INC. - -------------------------------------------------------------------------------- (Name of Registrant as Specified in its Charter) Iridian Asset Management LLC and Franklin Mutual Advisers, LLC - -------------------------------------------------------------------------------- (Name of Person(s) Filing Proxy Statement, if other than Registrant) Payment of Filing Fee (Check the appropriate box): [X] No fee required [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: --------------------------------------------------------------- (2) Aggregate number of securities to which transaction applies: --------------------------------------------------------------- (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined: --------------------------------------------------------------- (4) Proposed maximum aggregate value of transaction: --------------------------------------------------------------- (5) Total fee paid: --------------------------------------------------------------- [ ] Fee paid previously with preliminary materials. [ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. (1) Amount previously paid: ------------------------------------------------------------------- (2) Form, Schedule or Registration Statement No.: ------------------------------------------------------------------- (3) Filing Party: ------------------------------------------------------------------- (4) Date Filed: ------------------------------------------------------------------- The following is the text of a press release issued by Iridian Asset Management LLC and Franklin Mutual Advisers, LLC on April 3, 2002. FROM: Iridian Asset Management LLC Franklin Mutual Advisers, LLC Contact: Hedda Nadler Mount & Nadler Tel: (212) 759-4440 Major Shareholders Comment on ICN Pharmaceuticals, Inc. Nominating Committee Westport, CT and Short Hills, NJ. April 3, 2002. Iridian Asset Management and Franklin Mutual Advisers, the investment manager for Franklin Mutual Series Fund Inc., commented on last week's announcement by ICN Pharmaceuticals Inc. (NYSE: ICN) that ICN had created a "nominating committee" to "review" nominees for director of the company and a letter addressed to them by Milan Panic of ICN. Both the announcement and the letter, they noted, came only after the delivery on Friday, March 22, 2002, of their formal notice to ICN of an intention to nominate three persons for election to ICN's board of directors at the company's next annual meeting of stockholders to be held on May 29, 2002. "We are gratified that a company whose historical board selection process could, in our opinion, most charitably be described as ad hoc, has decided to appoint a nominating committee and to do so with a public announcement." "We find it ironic and significant that ICN's decision to create a committee took place only following the company's becoming aware of the formation of our group." "We have the highest regard and respect for the three directors nominated and elected by ICN shareholders last May and their efforts over the past year. The company's action may well be an indication of the salutary effect on a company's governance practices that even a minority of shareholder-nominated and supported directors can have." "However, we and ICN's other shareholders will perhaps be forgiven if we declare ourselves more than a little skeptical of ICN's motivation and somewhat less than fully confident in whatever may result from the company's sudden and convenient conversion to the gospel of good governance." "We may well conclude that corporate democracy, like American democracy, is best served by giving the shareholder-electorate the chance to choose for themselves between alternative slates of qualified candidates - one sponsored by shareholders, the other by management." Iridian is an SEC-registered investment adviser located in Westport, CT. Iridian manages approximately $11 billion for institutional clients, pension funds, charitable foundations and endowments, and invests primarily in mid-cap and large-cap U.S. equities. Franklin Mutual Advisers, LLC is a subsidiary of Franklin Resources, Inc. [NYSE:BEN], a global investment organization operating as Franklin Templeton Investments. Franklin Templeton provides global and domestic investment management services through its Franklin, Templeton, Mutual Series and Fiduciary Trust subsidiaries. The San Mateo, CA-based company has over 50 years of investment experience and more than $266 billion in assets under management as of February 28, 2002. For more information, please call 1-800/DIAL BEN(R) or visit franklintempleton.com. In connection with the solicitation of proxies with respect to the 2002 annual meeting of stockholders of ICN Pharmaceuticals, Inc. ("ICN"), Iridian Asset Management LLC ("Iridian") and Franklin Mutual Advisers, LLC ("FMA") will file with the Securities and Exchange Commission (the "SEC"), and will furnish to security holders of ICN, a proxy statement, which security holders are advised to read as it will contain important information. Security holders will be able to obtain a free copy of such proxy statement (when available) and other relevant documents filed with the SEC from the SEC website at www.sec.gov. Such proxy statement will also, when available, be provided for free to security holders by Iridian and FMA. Information concerning Iridian, FMA and certain of the executive officers, directors and affiliates of FMA and Iridian, each of whom may be deemed to be a participant in a solicitation by FMA and Iridian of proxies with respect to ICN's 2002 annual meeting, including a description of their direct and indirect interests, by security holdings or otherwise, in the matters to be acted upon at the 2002 annual meeting, may be found in a Schedule 14A filed pursuant to Rule 14a-12 by Iridian and FMA on April 3, 2002. Copies of this Schedule 14A are available from the SEC website at www.sec.gov. -----END PRIVACY-ENHANCED MESSAGE-----