May 8, 2007 |
Billionaire investor Carl Icahn failed to win a seat on Motorola Inc.'s board after a three-month campaign in a victory for Chief Executive Ed Zander. The world's second-largest mobile-phone maker gave the preliminary results in a statement Monday after its annual meeting in Chicago and said the final tally might take a few weeks. Icahn had said Monday that he did not expect to win a seat on the Motorola board because three or four large mutual fund shareholders were likely to vote against him.
May 3, 2007 |
Motorola Inc. said Carl Icahn lacked the commitment and seriousness needed to join its board, escalating a campaign against the billionaire investor's bid to become a director. Icahn views board membership as a "mere adjunct to his investing activity," Schaumburg, Ill.-based Motorola said in a letter to investors. Shareholders will vote Monday on Icahn's board nomination at their annual meeting. Icahn, who controls 2.
March 14, 2007 |
Billionaire investor Carl Icahn bid $955.9 million for WCI Communities Inc. after saying he wanted to oust the board of the Florida condominium and single-family home builder because the stock was undervalued. The shares jumped $2.83, or 15%, to $21.80, the biggest gain since July 2002 and about 1% below Icahn's bid of $22 a share.
March 13, 2007 |
Billionaire shareholder activist Carl Icahn increased his stake in Motorola Inc. and started a proxy fight for a board seat after demanding that the mobile phone maker return more of its cash to investors. Icahn, who owns 2.5% of the stock, submitted proxy materials for the Schaumburg, Ill.-based company's May 7 shareholder meeting in a regulatory filing. Motorola is reviewing the statement, a spokesman said.
March 6, 2007 |
Motorola Inc. may be preparing for a fight to keep billionaire activist Carl Icahn off its board. "Mr. Icahn's nomination has not been endorsed by your board of directors," the company said March 2 in its notice for the 2007 shareholder meeting. "We urge stockholders not to sign any proxy card that you may receive from the Icahn entities." The comments suggest that Motorola may stand up against Icahn as he presses Chief Executive Ed Zander to use all of the company's $11.
February 10, 2007 |
Auto parts supplier Lear Corp. said Friday that it had agreed to a buyout offer by a group affiliated with billionaire investor activist Carl Icahn for about $2.8 billion, but it left the door open for a better offer. At least one major shareholder said he would try to get others who own stock to oppose the deal. Under the agreement, Icahn-controlled American Real Estate Partners would pay $36 a share; a Lear spokesman said that amounted to about $2.8 billion.
February 6, 2007 |
Activist investor Carl Icahn has made a $2.43-billion offer for auto parts supplier Lear Corp., the two parties said Monday. Icahn affiliate American Real Estate Partners said in a filing with the Securities and Exchange Commission that it offered to buy Southfield, Mich.-based Lear for $36 a share in cash. Lear shares surged $3.97, or 11.5%, to $38.64.
December 8, 2006 |
Reckson Associates Realty Corp. shareholders approved a nearly $4-billion takeover by New York-based SL Green Realty Corp., but billionaire investor Carl Icahn, who had made his own Reckson bid, hinted he would not abandon his fight for some office buildings included in the deal. The vote followed two days of haggling and inconclusive ballot counting for Uniondale, N.Y.-based Reckson, as well as last-minute maneuvering by Icahn and Manhattan developer and office owner Harry Macklowe.
December 5, 2006 |
Billionaire financier Carl Icahn outlined a new, $4.3-billion bid for Reckson Associates Realty Corp. on Monday, this time on his own after two partners withdrew over the weekend. Icahn said in a letter that he would submit a formal proposal to Reckson by today. On Wednesday, shareholders are scheduled to complete a vote on a rival bid from SL Green Realty Corp. Reckson's board has recommended accepting the SL Green proposal. The vote had been postponed, to Nov. 28 from Nov.
November 15, 2006 |
Billionaire Carl Icahn, known for his active investment style, has acquired a 1% stake in Hilton Hotels Corp., according to a filing made public Tuesday. The New York-based investor, through his Icahn Management investment fund, acquired a similarly sized stake in Wyndham Worldwide Corp., another big hotel operator, according to the filing with the Securities and Exchange Commission. As of Sept. 30, Icahn owned 4.1 million shares of Hilton, worth $126.7 million at Tuesday's closing price of $30.