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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Icahn on eBay, Lionsgate: 'Eventually the Truth Will Win Out' (EBAY) (LGF)
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Lions Gate (LGF) Shares Tumble as Icahn to Sell 44M+ Shares
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Miller Tabak Reiterates a 'Neutral' on Lions Gate (LGF); Revising Estimates
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Carl Icahn Extends $7.50/Share Tender Offer for Lions Gate (LGF)
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Morning Movers 8/31: SKS, LGF, ENER, ALIM, MEOH Higher; MCCC, ISLE, MON, RAX Lower
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Lionsgate (LGF) Board Rejects Icahn $6.50/Share Bid
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Icahn Raises Lions Gate (LGF) Stake to 44.8M Shares, Now Owns 37.9% of the Company
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11,350 total articles have been posted to this entity.
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