October 22, 2013 |
Activist investor Carl Icahn said he sold nearly 3 million shares in Netflix, noting he reaped a substantial windfall from his investment in the online video service. Icahn said he decided it was time to cash out, after the rapid appreciation of the company's stock, which rose to $323 a share, from his initial investment of $58 a share. "As a veteran of seven bear markets, I have learned that when you are lucky and/or smart enough to have made a total return of 457% in only 14 months, it is time to take some chips off the table," Icahn said in a statement.
November 5, 2012 |
Within hours of Netflix Inc. announcing that it had adopted a "poison pill" measure to block a hostile takeover, activist investor Carl Icahn responded with a broadside calling the move "an example of poor corporate governance. " Icahn called Netflix's plan -- which would trigger whenever an individual or group tried to buy 10% or more of the company -- "particularly troubling" because of its "low and discriminatory" threshold. The billionaire disclosed on Oct. 31 that he had taken a 10% stake in the video subscription company, through stock and options. "As one of the company's largest shareholders we are concerned about the poor corporate governance at Netflix that these and other actions reflect," Icahn said in a statement filed Monday with the Securities and Exchange Commission.
March 19, 2010 |
One week after Lions Gate Entertainment rejected his holdings in the studio, investor Carl Icahn is launching a hostile takeover bid for the entire company. Icahn is offering $6 a share, which sent Lions Gate shares rising above the offer price in early morning trading. Icahn, who owns nearly 19% of Lions Gate, has been steadily increasing his stake in the studio and recently launched a tender offer to up his stake to nearly 30%. The investor has been angling for more control over Lions Gate, which operates out of Santa Monica under the leadership of chief executive Jon Feltheimer and vice chairman Michael Burns.
July 31, 2012 |
Carl Icahn, who only a year ago hoped to combine two studios and create an entertainment empire, has retreated from Hollywood by selling his stake in Metro-Goldwyn-Mayer. The billionaire investor has quietly sold his approximately 25% stake in MGM, the 88-year-old studio behind the James Bond series and the upcoming "Hobbit" trilogy, back to the company in a deal worth $590 million. The move comes less than a year after Icahn sold his 33% stake in film and television studio Lions Gate Entertainment, which he originally wanted to merge with MGM. MGM agreed to pay Icahn $33.50 for each of his 17.6 million shares, according to a confidential letter sent to other stockholders and obtained by the Los Angeles Times.
February 20, 2013 |
Herbalife Ltd. Chief Executive Michael Johnson said the company has had "short discussions" with billionaire investor Carl Icahn, who last week disclosed that he had purchased 13% of the company's stock and would consider efforts to take the company private. Johnson, speaking to analysts in a conference call Wednesday morning, did not elaborate. "Yes, we've had short discussions with Mr. Icahn but beyond that nothing concrete to discuss," Johnson said. Icahn and hedge fund manager Bill Ackman have engaged in a public battle about the value of Herbalife, a Los Angeles maker of weight loss and nutritional products.
December 4, 2013 |
Shareholder activist Carl Icahn said Wednesday he had informed Apple that he has submitted a proposal to let shareholders vote on a larger stock buyback. In a tweet Wednesday, Icahn wrote: "Gave $AAPL notice we'll be making a precatory proposal to call for vote to increase buyback program, although not at $150 billion level. " A "precatory" proposal is one that is considered an advisory measure, but not necessarily legally binding. Apple's annual shareholder meeting typically takes place in February. Icahn revealed his large stake in Apple this summer and said he would begin pressing the company to increase the size of the stock buyback.