May 4, 2005 |
An influential advisory service is recommending that Blockbuster Inc. shareholders vote for two board candidates nominated by Carl Icahn but not for the financier himself. Institutional Shareholder Services endorsed Icahn allies Strauss Zelnick and Edward Bleier in a report to shareholders of the nation's leading movie-rental chain. However, ISS said Chief Executive John F. Antioco should stay.
April 10, 2008 |
Biogen Idec Inc. was sued by billionaire investor Carl Icahn over access to documents detailing the company's failed attempt to find a buyer last year. Icahn, who owns Biogen shares valued at $650 million, sent the company a letter March 28 demanding to inspect records on how the sale process was designed and conducted. Biogen denied the request April 4, prompting Icahn to sue, lawyers for the investor said in a complaint filed this week in Delaware Chancery Court in Wilmington. Biogen lost more than $5 billion in market value in December when it abandoned a plan to sell the company after not receiving any offers.
June 22, 2002 |
Morton's Restaurant Group Inc. said it would call off its deal with Castle Harlan and accept a bid from financier Carl Icahn, who had sweetened his offer for the firm by 11% to $63 million. The decision may signal the end of a contentious battle for the New Hyde Park, N.Y., steakhouse chain. On Wednesday, Icahn boosted his offer for Morton's to $15 a share from $13.50, two days after Castle Harlan boosted its offer to $13.50 from $12.60, matching Icahn's original offer.
May 16, 2007 |
Billionaire investor Carl Icahn cut his stake in Time Warner Inc. by almost half in the first quarter while adding shares of oil and railroad companies. Icahn's funds reduced holdings of New York-based Time Warner to 12.9 million shares from 25 million at the end of December, according to Securities and Exchange Commission filings. He bought 3.1 million shares of oil producer Anadarko Petroleum Corp. and 4.59 million shares of oil drilling-rig contractor Pride International Inc.
July 24, 2002 |
The bitter battle over Morton's Restaurant Group Inc. ended when shareholders accepted Castle Harlan Inc.'s offer to acquire the company, snubbing an offer from billionaire financier Carl Icahn. The Morton's board agreed last week to accept Castle Harlan's sweetened offer after the private New York buyout firm matched a bid of $71.2 million from a group led by Icahn. Castle Harlan increased its bid four times because of bids by Icahn. Morton shares were unchanged at $16.95 on the NYSE.
May 17, 1988 |
Texaco said Monday that it has entered negotiations with its largest shareholder, TWA Chairman Carl C. Icahn, and indicated that they are discussing a financial settlement that would remove Icahn from Texaco's picture. In a brief statement issued late in the day, Texaco said it and Icahn are "engaged in discussions seeking to resolve their differences without continuing a proxy contest." A battle for five board seats has been expected at the firm's June 7 shareholder meeting.
June 4, 2008 |
Outraged by new details about Yahoo Inc.'s efforts to complicate Microsoft Corp.'s takeover bid, activist investor Carl Icahn says he believes Yahoo's board will have to be fired to lure Microsoft back to the bargaining table. Icahn said in a Tuesday interview with the Wall Street Journal that Microsoft was unlikely to renew its courtship as long as Yahoo Chief Executive Jerry Yang and the company's eight other directors remain on the job. "I'm very cynical about many of the boards and CEOs in this country, but even I am amazed at the lengths that Jerry Yang and the board went to entrench themselves in this situation," Icahn told the Journal.
October 12, 2005 |
Billionaire investor Carl Icahn stepped up his campaign for changes at Time Warner Inc. on Tuesday, issuing a letter to shareholders accusing the company's executives of mismanagement and demanding new shareholder representation on the board. Icahn has already urged the company to step up its share buyback program to $20 billion from $5 billion as a way to lift the company's sluggish stock price.
May 7, 1990 |
Carl Icahn took his battle with USX Corp. management to the company's annual meeting today, but the corporate raider conceded that his plan to split the steel-energy giant in two could fail. Icahn, USX's biggest shareholder, disclosed the pessimism as he urged other stockholders to approve his proposal for separating the company's healthier Marathon Oil Co. subsidiary from its laggard U.S. Steel business.
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.