“Apple Inc. Chief Executive Tim Cook probably used his deliberate, quiet charm to try to persuade activist investor Carl Icahn to change his mind,” Therese Poletti writes for MarketWatch.When the two met in New York on Monday, as was widely reported, Icahn wanted to get the notion on the table that investors want more returns from Apple and its still-growing cash pile than they are getting. In April, Apple pledged to return $100 billion to investors by the end of 2015, increasing both its dividend and its share repurchase program. It now pays a $3.05 dividend per share.”
“That likely isn’t enough for Icahn,” Poletti writes. “In August, he tweeted, ‘Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly.’ That led eventually to Monday’s meeting between Cook and Icahn.”
Poletti writes, ” Cook is likely hoping to keep Icahn at bay without making any distinct promises. But with Apple’s shares still below $500 and well off their $700 peak, it’s unlikely Icahn will be going away soon.”
Read more in the full article here.
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