“Following a precatory proposal from billionaire investor and Apple shareholder Carl Icahn urging Apple to vote on a larger buyback, Icahn today announced on Twitter that he thinks Apple ‘is doing great disservice to shareholders by not having markedly increased its buyback,'” Jordan Kahn reports for 9to5Mac.
“He also said that he would soon send Apple another in-depth letter regarding his proposals and confirmed that he has purchased another $500 million in Apple shares bringing his total investment to $3 billion,” Kahn reports. “Icahn has been proposing a larger buyback from Apple of around $150 billion since first announcing back in August that he had taken ‘a large position’ in the company.”
Having purchased $500 million more $AAPL shares in the last two weeks, our investment has crossed the $3 billion mark yesterday.
— Carl Icahn (@Carl_C_Icahn) January 22, 2014
We feel $APPL board is doing great disservice to shareholders by not having markedly increased its buyback. In-depth letter to follow soon.
— Carl Icahn (@Carl_C_Icahn) January 22, 2014
Read more in the full article here.
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