“Carl Icahn is softening his approach to getting at Apple Inc.’s bulging cash pile, now seeking a shareholder vote for a more-modest share buyback than what he proposed earlier this year,” David Benoit reports for The Wall Street Journal.
“The activist billionaire had originally urged the technology company to repurchase $150 billion of its stock immediately. He called a previously announced buyback by Apple, which the company said was the biggest buyback authorization in history, too small and too slow,” Benoit reports. “Now, he is asking for $50 billion in buybacks on top of Apple’s previous program, according to people familiar with his latest overture to Apple. The proposal would call for the buybacks to be done by the end of September, these people said.”
“Apple in April said it planned to repurchase $60 billion in shares and return a total of $100 billion, including in dividends, through 2015,” Benoit reports. “His latest request could also help Mr. Icahn reach a middle ground with management. Apple CEO Tim Cook has had dinner with Mr. Icahn, and both sides have expressed a willingness to talk and avoid any protracted battles.”
Read more in the full article here.
Related articles:
Icahn proposal calls for Apple buyback of ‘at least’ $50 billion – December 4, 2013
Carl Icahn files shareholder proposal with Apple for share buyback – December 4, 2013
Memo to Apple: Carl Icahn is right – November 23, 2013
Carl Icahn warns stock market could face ‘big drop,’ says does not want fight with Apple management – November 19, 2013
Carl Icahn reports stake in Apple now worth $2.05 billion
Carl Icahn: I had a ‘good conversation’ with Tim Cook; we both believe Apple is undervalued – November 11, 2013
Carl Icahn is 23rd in AAPL shareholders’ line with only 0.5% stake – October 24, 2013
Carl Icahn’s letter to Tim Cook asks Apple to commence immediate $150 billion buyback – October 24, 2013
Carl Icahn sends letter to Tim Cook, pressures Apple for a buyback – October 23, 2013
Activist investors like Carl Icahn destroying companies, costing jobs, says corporate attorney – October 9, 2013
Carl Icahn’s Apple buyback seen failing in bonds – October 7, 2013
Henry Blodget: Apple should tell Carl Icahn to ‘stuff it’; America should be incredibly proud of Apple – October 2, 2013
Apple should not bow to Carl Icahn – October 1, 2013
Carl Icahn says firm now has $2 billion in Apple shares; another meeting with Apple in 3 weeks – October 1, 2013
Carl Icahn demands $150 billion from Apple – October 1, 2013
Will Carl Icahn pick a fight with Apple? – October 1, 2013
Tim Cook to meet with Carl Icahn on Monday in New York City – September 26, 2013
Carl Icahn scoops up Apple stock on post-iPhone event plummet – September 13, 2013
Carl Icahn buys ‘quite a bit more’ Apple shares following unveiling of iPhone 5s and iPhone 5c – September 11, 2013
Carl Icahn’s ulterior motive: To get Apple to buy Nuance – September 3, 2013
Carl Icahn to dine, discuss buybacks with Apple CEO Cook in September – August 22, 2013
Icahn to meet with Apple CEO Tim Cook in September – August 22, 2013
How Carl Icahn will accelerate Apple’s ascent – August 14, 2013
Billionaire Carl Icahn says Apple shares could trade at $700 with increased buyback program – August 13, 2013
Carl Icahn spells the end of an era at Apple; this is the end for the Apple that you knew and loved – August 13, 2013
Carl Icahn reveals large Apple position, reportedly over $1 billion; wants to see Apple increase stock buybacks – August 13, 2013
Apple stock goes vertical: The Carl Icahn effect – August 13, 2013