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Thursday, Oct 24
Icahn would "test the waters" on Apple proxy fight if buyback plans spurned
- During a CNBC talk discussing his letter to Tim Cook (AAPL +1.2%), Carl Icahn says he would "test the waters" regarding an Apple proxy fight if his calls for a bigger buyback are ignored.
- With a market cap of $482B, Apple is much bigger than Icahn's historical proxy war targets, and his current stake remains below 1%. However, Icahn does claim to have received significant interest from major Apple shareholders regarding a larger buyback.
- Apple has gradually moved higher on an up day for equities.
- Earlier: Icahn discloses larger Apple stake, calls for $150B tender