Activist investor Carl Icahn wrote an open letter to Apple this week, not-so subtly demanding for the company to complete a $150 billion share buyback to increase shareholder value.
Apple has over $147 billion in cash and cash equivalents on its balance sheet and has already approved a three-year $60 billion buyback program.
Icahn has 4.7 million shares in the company, after initially ... [ read the full article ]
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They will have paid $1,809,654,421 for the 3.4 million shares.
No idea what the extra 900,000 or so would be on top as the share price at the time isn't given.
Then want the company to go into debt and then buy out all the other shareholders shares which boosts up their share price and they'll either sell up or hold onto them and probably try and do a board take over I'd say.
Do a board takeover of Apple..? I think that's only possible if it's a friendly takeover; no one can top Apple's war chest of cash, which is probably the single biggest factor in hostile takeovers.
Apple would really have to be on the rocks, in my opinion, for Icahn to persuade and/or buy enough of the rest of the investor voting bloc.
