carl-icahn-apple-care-shareholders-raqwe.com-01

Carl Icahn: Apple does not care about its shareholders

carl-icahn-apple-care-shareholders-raqwe.com-01

After several months of unsuccessful attempts to convince Tim Cook and the board Apple to increase the program to repurchase shares, the billionaire investor and part-time corporate raider Carl Icahn still does not lose hope of achieving their goal. In a recent interview with U.S. television channel CNBC, he said about buying another Apple shares in the amount of $ 500 million, thereby increasing its total investment in the company to three billion dollars.

However, Icahn expressed his disappointment the current position of the Group Management, which is still not eager to spend additional tens of billions of dollars to buy securities of Apple. In his opinion, the actions the board of directors does a disservice to shareholders, so as soon as the investor is going to send another open letter in order to obtain a positive response to its request.

According to the financial report for the third quarter Apple last year, the accounts of the company has accumulated nearly $ 150 billion of available funds. In August 2013 Icahn expressed initiative to spend all that money on a program to repurchase shares based on the rapid growth of the securities – up to $ 700. For this purpose, a billionaire several times met with Tim Cook, but to no avail.

In December, Charles announced his intention to bring this issue to a public vote of Apple investors at the next meeting of shareholders, which will be held next month. Later, the board of directors openly asked holders of its securities to vote against the proposal Aikan. Whatever it was, in any case, the results of such voting are not mandatory and recommendatory nature.

In recent years, many Wall Street figures noticeably alarming so much attention to the investor shares Apple. The fact that Icahn has long earned a reputation as a corporate raider severe that bought large blocks of securities of corporations with a view to gain control over their management.

The size of the current program to repurchase shares of Apple stock is limited to 60 billion dollars, 10 billion of which the company has already spent at the beginning of 2012.

Read another very interesting article about alternative energy of the Sun, water and air.




Leave a Reply

Your email address will not be published.