Seeking Alpha

Icahn Enterprises L.P. (IEP)

  • Feb. 19, 2014, 9:11 AM
    • Actavis' $25B acquisition of Forest Labs (FRX) represents "another validation of the activist investment philosophy," gloats Carl Icahn (IEP).
    • The investor owns 11.4% stake in Forest and successfully agitated for change in a bruising battle with the company's previous management.
    • Someone who bought Forest shares on November 16, 2009 - coincidentally the date that Icahn's investment was first made public - and kept the stock until now would have realized a total return of 209% vs 84% for the S&P 500.
    • Over the period, Forest's market cap increased by almost $17B, a jump of over 193%.
    • "We believe that our activism did much to help bring about the great result," Icahn says.
    • However, he laments, Forest could have realized even more value had it listened to him from the get-go and not forced him to fight proxy battles.
    | Feb. 19, 2014, 9:11 AM | 1 Comment
IEP vs. ETF Alternatives
Company Description
Icahn Enterprises LP is a diversified holding company owning subsidiaries engaged in nine primary business segments: Investment, Automotive, Energy, Gaming, Railcar, Food Packaging, Metals, Real Estate and Home Fashion.
Sector: Financial
Country: United States