“Proxy advisory firm Egan-Jones advised Apple Inc shareholders on Friday to reject activist investor Carl Icahn’s demand that the iPhone maker expand its stock buyback program, a proposal that will be put to a vote this month,” Edwin Chan reports for Reuters.
“‘The board and management team have demonstrated a strong commitment to returning capital to shareholders over the past two years,’ the firm, the smallest of the three major proxy advisory outfits, said in a report obtained by Reuters on Friday,” Chan reports.
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