David Einhorn Wants Apple (AAPL) to Create a High-Yielding Perpetual Preferred Stock, Urges NO Vote on Proposal 2
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ISS Recommends Voting for Apple's (AAPL) Preferred Share Elimination Proposal
February 8, 2013 4:32 PM ESTISS said it recommends Apple's (Nasdaq: AAPL) plan to eliminate "blank check" preferred shares. The firm said the preferred shares can be "misused" in takeover defense and recommends voting for the proposal.
NOTE: Earlier in the week, Greenlight Capital's David Einhorn urged to vote against the proposal.... More
Apple (AAPL) Shareholder Activism Highlights Capital Allocation, But Prefers Traditional Buyback/Dividend - Goldman
February 8, 2013 8:24 AM ESTYesterday, Greenlight Capital founder David Einhorn made waves on Apple (NASDAQ: AAPL) after disclosing he has proposed to the company the issuance of a preferred stock in an effort to unlock shareholder value. Mr. Einhorn took his case public and urged shareholders to vote NO on proposal 2 which seeks to eliminate the company's ability to issue preferred stock. Later in the day, the company issued a statement pledging to "thoroughly evaluate" Greenlight Capital's proposal and... More
Apple (AAPL) Ramps after Statement on Cash
February 7, 2013 3:47 PM ESTShares of Apple, Inc. (NASDAQ: AAPL) ramped higher mid-day after the company addressed its cash hoard, saying it will thoroughly evaluate Greenlight Capitals current proposal to issue some form of preferred stock. The company said it remains committed to having an ongoing dialogue with... More
CalPERS Takes Other Side of Einhorn on Apple (AAPL) Proposal 2
February 7, 2013 3:01 PM ESTAmid news that David Einhorn of Greenlight Capital is urging Apple (Nasdaq: AAPL) shareholders to vote NO on proposal 2 in an effort to leave the door open to a preferred stock, massive California pension fund CalPERS is out in support of the measure.
... More
CalPERS says Apple (AAPL) Proposal 2 deserves shareholder support - CNBC
February 7, 2013 2:34 PM ESTIn opposition to David Einhorn's views, CalPERS says Apple (Nasdaq: AAPL) Proposal 2 deserves shareholder support - CNBC... More
Apple (AAPL) Pares Einhorn Gains, Trades Largely Flat Following 2% Rise
February 7, 2013 10:51 AM ESTAfter starting out about 2 percent higher on the session following comments from Greenlight Capital's David Einhorn, Apple (Nasdaq: AAPL) has since pared gains, now up just 0.1 percent Thursday morning.
Einhorn was pushing for a distribution of preferred shares to Apple holders in... More
Einhorn's Greenlight Capital Urges Apple (AAPL) Shareholders to Oppose Proposal 2, Which Would Impede Ability to Unlock Shareholder Value
February 7, 2013 8:35 AM ESTDavid Einhorn's Greenlight Capital, Inc. announced that it is urging fellow shareholders of Apple Inc. (Nasdaq: AAPL) to oppose the Companys attempt to amend its corporate charter. Greenlight is voting AGAINST Proposal 2 in Apples proxy, which would eliminate preferred stock from Apples charter and thus restrict the Boards ability to unlock the value on Apples balance sheet. Greenlight is asking all shareholders to also vote AGAINST Proposal 2 at the upcoming Annual Meeting of Shareholders to be held on February 27, 2013.
A shareholder since 2010, Greenlight believes Apple is a phenomenal company filled... More
