Billionaire corporate raider Carl Icahn on Monday dropped his attempt to push Apple into repurchasing $50 billion-worth of its stocks, after months of effort. The move follows a recommendation against his proposal made Sunday night by proxy advisory firm Institutional Shareholder Services, Icahn said in a letter to Apple investors. Apple already has repurchased $14 billion-worth of shares, and ISS predicted it would buy back another $32 billion-worth. Those factors led Icahn to drop his proposal, he said.
Loading ...
Icahn Whistles a Different Tune on Apple Share Buyback
Posted by: Richard Adhikari February 10, 2014 02:11 PMBillionaire corporate raider Carl Icahn on Monday dropped his attempt to push Apple into repurchasing $50 billion-worth of its stocks, after months of effort. The move follows a recommendation against his proposal made Sunday night by proxy advisory firm Institutional Shareholder Services, Icahn said in a letter to Apple investors. Apple already has repurchased $14 billion-worth of shares, and ISS predicted it would buy back another $32 billion-worth. Those factors led Icahn to drop his proposal, he said.