After finally threw in the towel against Dell, the billionaire decided to plump for Apple which he intends to build upon the work by encouraging the group management to validate a plan to repurchase $ 150 billion.
The war between Michael Dell and billionaire Carl Icahn is barely over, such shareholder activist restarts to load and this time against a different party, Apple.
The U.S. investor has indeed started a new war of attrition for the Cupertino company that has 150 billion dollars a share buyback program.
Strategic Communication
In a message released yesterday, Tuesday, October 1, on his Twitter account, the billionaire said he "had a cordial dinner with Tim (Cook, Apple's CEO Ed) last night (Monday)." Skillful communication that allows other shareholders and the financial world to know that a new standoff begins, or rather, as the case lasts for a few months now that Carl Icahn will now devote all his energy.
"We have lobbied hard for a program to repurchase $ 150 billion," he has said. "We decided to continue the dialogue in about three weeks," he said. Apple did not respond to a request for comment on the meeting Monday night.
The Icahn method
Carl Icahn, who built his fortune with hostile stock raids, had announced during August have acquired a stake in the group with apple, saying the judge as "extremely undervalued". He had said at the time they had a telephone conversation with Tim Cook on the opportunity for the group to increase its share buybacks, which generally results in a higher share price.
"We have $ 2 billion in this business," said Carl Icahn in an interview with CNBC. Based on the current market valuation of the group, it is a little less than 0.5% of the capital. "I can not promise you that the action will rise, but I can promise you that (the group) will be redemption actions, "assured the investor. Apple has approved a program, it is the size of the budget envelope that is at issue here. Earlier this year, the group had already succumbed to the pressure of the investment fund Greenlight Capital and agreed to distribute $ 100 billion to its shareholders in two years, including buying for $ 60 billion of its own shares.
The prospect of action Carl Icahn took Apple under the New York Stock Exchange: it gained 2.35% on the session to close at $ 487.96, near its record high of more than $ 700.
The prospect of action Carl Icahn took Apple under the New York Stock Exchange: it gained 2.35% on the session to close at $ 487.96, near its record high of more than $ 700.
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