“TIME coverboy Carl Icahn is on Apple’s case to give back more of its cash to shareholders — like himself,” Adam Lashinsky reports for Fortune.
“On Wednesday, Icahn told Time and his nearly 119,000 Twitter followers that he plans to make a precatory proposal that Apple increase its buyback program. (Precatory means ‘of, relating to, or expressing a wish or request.’ In other words, it is non-binding. It’s his way of saying ‘pretty please’),” Lashinsky reports. “The catch is that Icahn acknowledged his new request is ‘not at the $150 billion level.’ That’s a reference to his previous suggestion for the amount Apple should jump on straight away.”
“CNBC, citing a source, says Icahn wants $50 billion now, and that he’d like it by the end of the current fiscal year, which is 10 months away,” Lashinsky reports. “Assuming the figure is correct, Icahn has gone from $150 billion right now to $50 billion when Apple can get around to it.”
Read more in the full article here.
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