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.
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.
August 24, 2006 |
Billionaire investor Carl Icahn said that he wanted to be a member of ImClone Systems Inc.'s board and that the biotechnology company's chairman, David M. Kies, should not be reelected. Icahn, 70, said acting Chief Executive Joseph Fischer should be replaced by someone with a "significantly stronger background in biotechnology," according to a regulatory filing.
August 15, 2006 |
Carl Icahn increased his stake in ImClone Systems Inc. and hasn't yet decided whether to join the biotechnology company's board, according to a regulatory filing. The company, best known for its role in the Martha Stewart trading scandal, offered a board seat to the billionaire U.S. investor last week, after ImClone abandoned a six-month search for a buyer. Icahn, ImClone's second-biggest stockholder, raised his stake to 11.
May 27, 2006 |
Could Hollywood's last remaining independent studio become billionaire investor Carl Icahn's next prey? The veteran corporate raider has accumulated a stake of nearly 4% in Lions Gate Entertainment Corp., the company behind the Oscar-winning film "Crash" and the horror franchise "Saw." Icahn has built an $8-billion fortune buying shares of underperforming companies such as Blockbuster Inc. and TWA and pressuring them to sell off assets or cut costs to lift share prices.
May 12, 2006 |
Billionaire Carl Icahn lost at least $66 million when shares of a company he bet against soared, a regulatory filing indicates. American Real Estate Partners, Icahn's publicly traded holding company, "shorted" 2.5 million shares of a company in bankruptcy in late 2004, according to a filing with the Securities and Exchange Commission. Icahn borrowed and sold shares in anticipation they would fall. Instead, the stock climbed.