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Thursday, Aug 29
Icahn ups his stake in Nuance Communications
- Carl Icahn has bought an additional 20,890,119 shares in speech-recognition technology maker Nuance Communications (NUAN) bringing his position to 52.4M shares, or 16.9% of the company.
- He first disclosed a 9.3% stake in NUAN in April, without detailing any specific intentions for the company.
- Icahn has said he may seek talks with the company regarding the possibility of adding nominees to its board.
- Nuance's board adopted a shareholder rights plan with a 20% trigger, in an effort to prevent any individual or group from gaining control of the company.