A Close Reading Of Carl Icahn's Medimmune Press Release

Apr.18.07 | About: AstraZeneca Group (AZN)

Could it be that Carl Icahn doesn't any longer really own many, if any, shares in Medimmune (MEDI)? On Monday Icahn, whose SEC filings have shown that he owns 2.8 million Medimmune shares, issued a press release commenting that he supports a move by the company to find a buyer.

Here's the interesting part: His press release started by saying, "Several weeks ago, as a large shareholder of Medimmune, " he encouraged the company to sell itself.

Another way to read that, if you believe that every word written by someone like Icahn counts, is that he was a large shareholder several weeks ago, not today. Icahn, whose recent ownership position wasn't large enough to require him to file immediately with the SEC if he sells shares, didn't return my call seeking comment.