Carl Icahn acquired a leading equity stake in Newell Brands (NYSE: NWL), according to the New York Post, citing three sources. His position was acquired before Starboard disclosed its 4 percent stake, and he could have a key role in deciding the winner of an ongoing proxy fight, the report said.

Icahn owns less than a 5 percent stake.

UPDATE: Icahn will discuss the Newell Brands stake on CNBC at noon.