“That was one expensive dinner,” Julianne Pepitone reports for CNNMoney.
“Activist investor Carl Icahn told Apple CEO Tim Cook at a Monday night dinner that he wants Apple to issue a $150 billion buyback of its stock, in a bid to get Apple to return more money to shareholders,” Pepitone reports. “Icahn tweeted on Tuesday: ‘Had a cordial dinner with Tim last night. We pushed hard for a 150 billion buyback. We decided to continue dialogue in about three weeks.'”
Pepitone reports, “It’s unclear whether Icahn wants Apple to start a new buyback, or if he wants the company to expand its current program. Apple already announced in May that it will return $100 billion to shareholders over the next three years, through a combination of stock buybacks and a quarterly dividend of $3.05 per share.”
Had a cordial dinner with Tim last night. We pushed hard for a 150 billion buyback. We decided to continue dialogue in about three weeks.
— Carl Icahn (@Carl_C_Icahn) October 1, 2013
Read more in the full article here.
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