Carl Icahn
Carl Icahn is a billionaire financier, ranking #18 on the 2007 Forbes 400 list with an estimated net worth of $14.5 billion.
Icahn built a name for himself in the 1980s as a corporate raider. After keeping quite for years, Icahn made a major comeback as a 'activist investor'. An activist investor agitates companies for changes, including buyouts, share buybacks, and dividend increases.
Icahn has successfully pushed for changes at Time Warner (NYSE: TWX) and Temple-Inland (NYSE: TIN), among others. Icahn won board seats at Motorola (NYSE: MOT) after first failing.
In 2007, Icahn's activism successfully pushed biotech company MedImmune into a sales agreement with AstraZeneca (NYSE: AZN). Icahn is also involved with biotech company Imclone Systems (Nasdaq: IMCL), where he is Chairman of the Board.
In early, 2008 Icahn activist target BEA Systems (Nasdaq: BEAS) was sold to Oracle (Nasdaq: ORCL). Icahn held a 13% stake in BEA.
Icahn is also involved with developments at Biogen Idec (Nasdaq: BIIB) and WCI Communities (NYSE: WCI), which both unsuccessfully explored sales. WCI rejected a $22 per share takeover offer from Icahn in early 2007, only to see its stock plummet on the housing slowdown.
In 2008, Icahn targeted Yahoo! (Nasdaq: YHOO) after the Internet company failed to work out an acceptable merger agreement with Microsoft (Nasdaq: MSFT) Microsoft walked away from its bid for Yahoo! after months of bickering.
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Market Wrap: 13Fs Galore; Retail Giant Grim on Outlook; Coca-Cola's 'Monster' Deal
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After-Hours Stock Movers 10/23: (FTNT) (EQIX) (CAKE) Higher; (SYMC) (FIO) (TQNT) Lower (more...)
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Carl Icahn Not Involved in J.C. Penney (JCP) Trade - CNBC
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Market Wrap: Einhorn Sees Green in Apple; Disney's Magical Quarter; JCPenney Sales Slip
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Top 10 News Items for 02/25 - 03/01: Investors Love/Hate Groupon; Best Buy Not Bought; Icahn Becomes Vitamin Salesman
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Icahn's Icahn Capital Lowers Stake in J. C. Penney (JCP) Buy Over 4M Shares
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11,355 total articles have been posted to this entity.
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