Goldman Sachs Maintains Neutral Rating On Forest Laboratories

According to Goldman Sachs, Forest Laboratories FRX announced it has received notice that High River Limited Partnership, an entity affiliated with Carl Icahn, has taken a 6.5% stake in the company (options and shares) and intends to nominate four individuals for election to Forest's nine-member board. Goldman Sachs said that, per the press release, Forest management has not yet had the opportunity to meet with High River to discuss their ideas. “Forest's annual meeting is typically held in mid-August with the election process starting 60 days in advance. Carl Icahn has been a shareholder since 2009, holding 1.65 mn shares (around 0.6% of shares) as of March 31, 2011.” Forest Laboratories closed yesterday at $38.57.