Icahn raises stake in Apple

Friday 25 October 2013 | 09:23 CET | News
Carl Icahn has increased his investment in Apple by 22 percent to 4.73 million shares and continues to push for a USD 150 billion share buyback at the company, according to a letter he sent to Apple CEO Tim Cook. The billionaire investor suggested the company use a self-tender offer to buy back the stock and said that he himself wouldn't sell his shares and take a profit. "There is nothing short term about my intentions here," he said. Icahn now owns about 0.5 percent of Apple, a stake worth roughly USD 2.5 billion based on the stock's closing of USD 531, the Wall Street Journal reported.

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Categories: Mobile & Wireless
Companies: Apple
Countries: World
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