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Icahn's open letter to Apple stockholders includes the withdrawal of his share buyback proposal

0. phoneArena posted on 10 Feb 2014, 23:39

Just a bit more than two weeks before Apple stockholders were set to vote on his proposal, Carl Icahn has given up. The investor, who currently owns more than $4 billion of Apple's shares, was asking holders to vote on a non-binding proposal that Apple buy back $50 billion in stock. Icahn revealed the turnaround in an open letter to Apple stockholders...

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posted on 11 Feb 2014, 00:03 3

1. PapaSmurf (Posts: 10457; Member since: 14 May 2012)

I don't like this guy.

posted on 11 Feb 2014, 02:58

4. Topcat488 (Posts: 1396; Member since: 29 Sep 2012)

The note is full of the same hot air as another smooth talker i know who said.

************************************YES WE iCAHN***************************************

posted on 11 Feb 2014, 04:19 1

5. Finalflash (Posts: 3528; Member since: 23 Jul 2013)

He's an idiot, but even he gets that this stock won't rise that much more if they buy back 100 billion worth. They just bought back about 14 billion in a week and it barely went up a couple dollars, if you do that 2x that will be about $50 which means at max he will make about 10% if he bought it what it is at right now (which he didn't). So now he gets that he is stuck in this for the long term.

posted on 11 Feb 2014, 00:17

2. Sauce (unregistered)

He is one annoying potatoe.

posted on 11 Feb 2014, 01:16

3. androiphone20 (Posts: 1654; Member since: 10 Jul 2013)

hehe, high fives all around!

posted on 11 Feb 2014, 20:39

6. roscuthiii (Posts: 2241; Member since: 18 Jul 2010)

Good. Apple realized Icahn's proposal was more in his favor than theirs. Not that it would have been detrimental, just that he was attempting to play them like a puppeteer would one of his puppets.
Hell, even if this move were more beneficial to Apple than Carl, they may have balked at it just to show him they're no one's puppet. I know I would.

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