Netflix shares jump after Icahn buys stake

News Broadband Global 1 NOV 2012
Netflix shares jump after Icahn buys stake
Shares in Netflix jumped higher on 31 October after news emerged that investor Carl Icahn has acquired a large stake in the online video company. A SEC filing showed that Icahn took a nearly 10 percent stake in the company. He owns about 1 percent directly, with the remainder in call options, the Wall Street Journal reports. Netflix shares were suspended shortly after rising nearly 20 percent and finished the day 14 percent higher at USD 79.24. They are up 45 percent over the past three months amid speculation the company is a takeover target. "There's going to be consolidation in this industry, and there are, I would believe, a lot of interested buyers that have a lot more capital than Netflix," Icahn said in an interview with the paper.

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Shareholders & subsidiaries, M&A buyouts & divestments

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