Investor Icahn wants Apple to make $150 billion tender offer for the company's stock
0. phoneArena 24 Oct 2013, 12:23 posted on
Investor Carl Icahn has just scored a better than 400% profit after dumping his shares in Netflix; now, he is turning his attention to Apple. The former "greenmailer" has written an open letter to Apple CEO Tim Cook urging Apple to make an immediate tender offer for $150 billion of Apple stock at the current price of $525...
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3. Pdubb (Posts: 248; Member since: 08 Aug 2011)
So basically he wants to make money without really spending any money. Sounds like one of those get rich schemes but this would probably work. I wish I were rich.
14. Finalflash (Posts: 2773; Member since: 23 Jul 2013)
He is a complete douche, does this all the time. Buys a controlling stake, forces companies to artificially increase stock price at real damage to themselves, laughs all the way to the bank (probably one he owns). Cook probably isn't going to listen to this idiot, likely because he is financially savvy enough to know this guy is just looking out for his own back.
17. Reluctant_Human (Posts: 885; Member since: 28 Jun 2012)
Well said finalflash. People like him won't think twice about destroying a company if it can turn him a prophet and constantly do things that should be or are illegal.
4. scotjo (Posts: 6; Member since: 24 Oct 2013)
It's difficult to wrap my head around the scale of this proposal.
All the average user wants from Apple is a phone they can afford.
5. tedkord (Posts: 10239; Member since: 17 Jun 2009)
So Icahn wants people to sell the stock at it's current price so he can sell it right after at a much higher price?
Why works anyone sell it back to Apple if it were about to explode?
6. PAPINYC (banned) (Posts: 2315; Member since: 30 Jul 2011)
Kudos to him. He's a smart man and, obviously, he wants to increase stock value before it totally tanks.
Oh, and it's actually Carl iCahn because heCahn..
9. PAPINYC (banned) (Posts: 2315; Member since: 30 Jul 2011)
Not true, he gives more to charity than anyone I know.
Besides, he didn't tell ANYONE to go stand on line on September 20th, so how can you accuse him of such?
11. Finalflash (Posts: 2773; Member since: 23 Jul 2013)
All the criminals have some charity front, its a small price to pay for making millions. Just look at congress, you pay them 10k and make 2 mill because of it. Just pay some charity with your dirty money, if you're good, the charity is a cash funnel you set up.
13. PAPINYC (banned) (Posts: 2315; Member since: 30 Jul 2011)
Technically, it's a "Tax Shelter" and quite legal as, the laws governing such were passed by Congress itself and never vetoed by any U.S. President.
12. tedkord (Posts: 10239; Member since: 17 Jun 2009)
What has people standing in line got to do with it? He's trying to convince Apple to buy back shares from everyday people at zero markup so his shares will go up in value. He's a con man.
That's hardly the only story about him, BTW.
18. Reluctant_Human (Posts: 885; Member since: 28 Jun 2012)
Your going to compare how much he donates to Warren Buffet? Someone who is 100 times smarter, better and more ethical than anyone out there when it comes to investments.
10. MobileCaseReview (Posts: 242; Member since: 10 Feb 2012)
LOL@ most of the comments made toward this. Obvious financial gurus with investment expertise at work.
15. Napalm_3nema (Posts: 2134; Member since: 14 Jun 2013)
Oh, and here I thought all this time it was Steve Jobs and the employees of Apple who made the company great and profitable.
Carl should go back to doing what he does best, making money for himself as a corporate raider, and leave Apple to do what they do best, make great products. He has absolutely zero idea what Apple really needs, and destroying the accrued funds they have in holding and adding debt removes the ability to perform acquisitions when and where necessary.
16. pongkie (Posts: 533; Member since: 20 Aug 2011)
he's blowing an air balloon!!! apple don't listen to him