Carl Icahn

Carl Icahn

Last Update: 05-16-2016

Number of Stocks: 21
Number of New Stocks: 0

Total Value: $21,485 Mil
Q/Q Turnover: 1%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Carl Icahn Watch

  • Friday Value Overview

    This Friday’s edition links to an argument in favor of a housing boom, a note about Caterpillar’s (NYSE:CAT) earnings, a great post using Interdigital (NASDAQ:IDCC) and Nortel (NT) as examples and noting Carl Icahn’s ideas for Motorola Mobility (NYSE:MMI). I’ve also got a rumor about Steven Cohen buying Facebook shares and, finally, thoughts and prayers for Norway.

    Here’s an interesting and unique take on the housing market. The Economist has a piece referring to a blog post by Karl Smith. I admit to not having heard of Smith before, but he uses the argument that construction and supply is well below replacement rates. New household formation has dropped significantly, but a good portion of that is from things like more roommates in one house, kids moving back in with parents, and vice-versa. We always see this when unemployment is high, so when it drops, we can expect higher household formation and a supply and demand problem with existing units. That doesn’t mean sales will necessarily pick up, because of difficulties getting mortgages and lack of desire to own, but it will mean there will be a shortage of units. Rents have already picked up strongly. Smith thinks this course-correction will come in the next 12 months. I don’t know about that, but it will come, and Smith is right that there will be a two year period with significant supply pressure. That just might be enough to make homeowners more optimistic.  

  • Wednesday Value Overview

    The middle of the week was full of earnings releases. The markets were slightly down, led by techs. Carl Icahn made more news with his Clorox (NYSE:CLX) bid. I’ve got a link to the Michael Burry profile from last night. American Express (NYSE:AXP) had a great quarter. Bank of America (NYSE:BAC) was so-so but oversold. Genworth Financial (NYSE:GNW) was horrendous. Finally, I’ve got a link to a very funny story on Apple (APPL), and it doesn’t have a thing to do with Steve Jobs.

    Carl Icahn was not happy with the response he got from Clorox to his previous $76.50 offer. It seems obvious to me that Clorox didn’t take Icahn seriously and didn’t think his idea of shopping Clorox to a different bidder was feasible or attractive. In response to him, the Board installed a poison pill plan to limit further purchases by Icahn. Icahn’s new bid is $80 per share, which equals $10.7 billion. To further show he is serious, he offered to put $6.2 billion in escrow if Clorox would negotiate with him. This might be a tough one for Icahn to win, but if you read the letter he sent to the Board, you might come away with the impression that he’ll do anything just to get back at them.  

  • Billionaire Icahn's Bid for Clorox

    Clorox has recently rejected the $10 billion bid of billionaire Carl Icahn as the bid seemed too low for the firm.

    Clorox is a 98 year-old manufacturer and marketer of consumer and institutional products. The products are varied including bleach and cleaning products, natural cleaning and laundry products, auto-care products, dressings and sauces, water-filtration systems wraps and containers, and natural personal care products. The firm sells its products primarily through mass merchandisers, grocery stores and other retail outlets.  

  • Carl Icahn Says Clorox (CLX) is "Very Undervalued"

  • Friday Value Overview

    The close of the week brings us big news from Google (NASDAQ:GOOG), a piece on Charlie Munger, Carl Icahn’s Clorox (NYSE:CLX) offer and his comments about Procter & Gamble (NYSE:PG), Kimberley-Clark (NYSE:KMB), and Colgate-Palmolive (NYSE:CL), Citigroup (NYSE:C) earnings, and the latest edition to CNBC’s Squawk Box.

    Google reported blow-out earnings, both with revenue and earnings, in their release yesterday. Shares skyrocketed higher, adding more than $20 billion to their market cap. Adding the value equivalent of a group of pre-IPO companies in just one day is not an easy thing to do. Some are even chattering that Google is now, again, a growth company. A few more days like this and it certainly will be growing out of the value camp it's been stuck in over the last few years.  

  • Carl Icahn Still Looking for Trouble

    Fortune article on the long time corporate agitator. Apparently he has a 25.3% rate of compounded return since 1990. That will turn a little bit into a whole pile of money.

    FORTUNE: Why did you decide to return all of the money from outside investors in your hedge fund, and close the fund to new investors?  

  • Carl Icahn Sounds Alarm Over Excessive Leverage

    Legendary money manager Carl Icahn sounded the alarm bell after the Ira Sohn conference.

    In an interview with CNBC, Icahn said the following:  

  • Ira Sohn Conference: Carl Icahn's Favorite Stock is Icahn Enterprises

    Carl Icahn began his career on Wall Street in 1961 and has become one of the most well-known and influential investors in America. In 1968, Icahn formed Icahn & Company. As a leading shareholder activist, Icahn believes his efforts have unlocked billions of dollars of shareholder and bondholder value and have improved the competitiveness of American companies. Icahn is a graduate of Princeton University, with a degree in philosophy.

    He was told by his father he had no talent. His father was an artist and his mother a musician.  

  • Billionaire Investor Carl Icahn Q1 Portfolio Update; Buys CLX, AMGN, SUG

    Billionaire activist investor Carl Icahn just reported his Q1 portfolio. Icahn likes to invest in distressed situations and push for a change in companies’ management. As of 03/31/2011, Icahn Capital Management LP owns 24 stocks with a total value of $6.2 billion. These are the details of the buys and sells.  

  • Carl Icahn: My Finest Hour as an Investor

    Activist investor Carl Icahn wrote to the editor of The New York Times to correct the misconception that one of the paper’s previous articles may have given its readers:

    While I found your article, “The Raider in Winter” (April 17) to be informative, I believe readers might draw conclusions that are inaccurate. The article states, “Mr. Icahn lost so much money during the financial crisis that he is still a bit shaken by the experience.” I find this statement to be nonsense.  

  • Carl Icahn Not Done Yet – Still Fighting the Likes of Trump and Ackman

    CARL C. ICAHN chases deals the way a dog chases cars. The guy just won’t quit. Talk to him for three minutes, and you get the feeling he couldn’t quit if he wanted to.

    “What else would I do? Play shuffleboard somewhere?” Mr. Icahn grumbles into the phone from his vacation home in Indian Creek, Fla., the rarefied enclave near Miami.  

  • NYT: The Raider in Winter: Carl Icahn at 75

    NYT has a good article on Carl Icahn, written by Janet Morrisey entitled, "The Raider in Winter: Carl Icahn at 75."

    These days, Icahn enjoys so much fame that one only has to mention that Carl Icahn has taken a stake in certain stocks, and those stocks will go up. For instance, in November 2010, regulatory filings showed that he had taken stakes in the toy maker Mattel and the building products company Masco. Mattel’s shares jumped to a 52-week high. Masco’s are up about 17%t since he bought the stake.  

  • Mentor Graphics Rejects Icahn Takeover, Proceeds with Debt Plan

    Carl Icahn, activist investor who specializes in overtaking distressed or out-of-favor companies and turning them around, continues in the battle for his latest target – Mentor Graphics Corp.(NASDAQ:MENT) Mentor Graphics is a company that designs electronic design automation; it has a market cap of $1.6 billion and negative 2.6% revenue growth in the last five years. Icahn currently owns 12,896,232 shares (11.76%) of the company and on Feb. 22 offered to acquire it for $17 per share or $1.91 billion. On March 28, the company’s board of directors unanimously rejected the offering, saying “The $17 per share proposal by Carl Icahn and certain of his affiliated entities (“Icahn Entities”) undervalues the company and its future prospects.” They also said they believed that selling to a strategic buyer would put it at commercial and regulatory risk that would not be in the best interest of the company or its shareholders.

    The very next day, Mentor announced that it would commence selling $220 million in bonds which could be converted to stock if the company is sold. The bonds would reduce Mentor’s annual interest payment on its debt to 4% from 6.25%.  

  • Carl Icahn to Return All Funds He Manages for Outside Investors

    In what would have to qualify as pretty big news, Carl Icahn has announced that he will be returning all the money he manages for outside investors.  

  • Icahn’s Takes a Beating on AMLN Stake

    Billionaire activist investor Carl Icahn is set to take a beating on his large stake in Amylin Pharmaceuticals (AMLN). Amylin shares fell 25 percent to $11.20 in early Nasdaq Stock Market trading after the companies diabetes drug Bydureon was found to be ineffective. A recent study found that Bydureon didn’t control diabetes disease better than the existing drug, Novo Nordisk A/S’ Victoza.

    Icahn Capital Management LP recently added to his holdings in AMLN in the fourth quarter of 2010. His holdings were 14,381,925 shares as of 12/31/2010 and he owns almost 10% of the company. AMLN makes up 5.39% of Icahn’s total portfolio.  

  • Carl Icahn Continues to Ride Organic Food Boom

    Carl Icahn continues to load up on shares of organic food distributor The Hain Celestial Group, Inc.(NASDAQ:HAIN).

    In a Feb. 18, 2011 SEC filing Icahn revealed that he picked up another 15,800 shares since December 31, 2010.  

  • Carl Icahn Extends Offer to Buy Out Mentor Graphics Corp.

    Carl Icahn the activist investor is very busy these days and cannot be easily discouraged. Shortly after Dynergy shareholders rejected his buyout offer, yesterday he extended an offer to buy another company, Mentor Graphics Corp. (NASDAQ:MENT), for $1.91 billion or $17 per share. This is the letter Icahn sent to the BOD of MENT, according to a SEC filing:
    I hereby offer to have one or more of my affiliated entities purchase Mentor Graphics in a transaction, the form of which will be determined, designed to yield its shareholders $17 per share net in cash. That price represents an approximate premium of about 40% above the price at the beginning of January 2011. This offer is conditioned on completion of cursory due diligence, and the redemption and waiver of anti-takeover devices and laws such as the poison pill. There will be no financing conditions. Furthermore, we will not insist upon providing for a break-up fee in the transaction so as not to provide a roadblock to others who may want to consider bidding higher than our bid. As we have told you, we believe that there are potential strategic bidders for Mentor Graphics whose bid will reflect inherent synergies and should be superior to our $17 offer. However, in any event, we believe that our fellow shareholders should have the opportunity to accept our offer or a higher one, if one emerges as we think it will.
    Over the past few quarters, Icahn built a sizeable position in this stock and the trade by itself has been very profitable.

    By extending the offer to Mentor Graphics, Icahn also opens door for selling his own shares to higher bidders.  

  • Why Carl Icahn is Pouring a Fortune into These Stocks

    Want a great stock tip? You might want to take one from Carl Icahn, since he seems to know what he's doing. The 75-year-old investing legend earned his fortune the old-fashioned way: through leveraged buyouts and private equity deals. Since 1978, Icahn has been taking on majority stakes in companies, unlocking their full value (usually with management shakeups), selling them for a nice gain and then rolling those profits into the next and bigger deal.

    Considering he's parlayed very little into an $11 billion portfolio in a little more than three decades, it might be worth poaching one of his picks.  

  • Carl Icahn Buys NAV, CHK, ENZN, AMLN, CMC,

    Billionaire activist investor Carl Icahn reported his Q4 portfolio. As of 12/31/2010, Icahn Capital Management LP owns 25 stocks with a total value of $5.6 billion. These are the details of the buys and sells. Carl Icahn likes to buy shares of companies that in distressed situations. He then push for a change. His latest impact is with Motorola, the 70-year old company was split into two, Motorola Mobile and Motorola Solutions. Carl Icahn is moving into Chesapeake Energy. He now owns more than 20 million shares of CHK. We are waiting to see what kind of changes he will push into the company.

    This is the portfolio chart of Carl Icahn. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.  

  • Activist Investor Carl Icahn and Donald Drapkin Going After Mentor Graphics

    Mentor Graphics Corporation is a provider of software and hardware design solutions that enable its customers to develop electronic products. Recently it is the $1.4 billion market cap company is the target of some heavy-weight activist investors, including our own Investment Guru Carl Icahn.

    Today, Carl Icahn and Donald Drapkin tell CNBC why they feel Mentor Graphics is trying to disenfranchise shareholders.  

  • Carl Icahn Built a 5.8% Stake in Chesapeake Energy Corp.

    A little over two years ago, Chairman and CEO of Chesapeake Energy Corp. Aubrey McClendon made news for having to liquidate his 33.4 million in his company due to a margin call for $16.52 per share.

    Shortly after that, McClendon was shortly thereafter awarded a controversial one-off $75,000,000.00 'Well Cost Incentive Award' by the board of directors.  

  • Are We Seeing Carl Icahn’s Influence – Chesapeake Announces Plans for Debt Reduction

    I’ve written about Chesapeake quite a few times over the past few months as the share price lingered in the $21 to $23 range. This link recaps most of what I’ve written.  

  • After Motorola, How to Play Carl Icahn's Next Move in Chesapeake Energy?

    Carl Icahn has a pretty simple formula for investing: Find a company with unappreciated assets and a sleepy management team, rattle a few cages, and wait for shares to finally appreciate. That's what he did with Motorola (MOT) and many other companies over the years. [Read my take on that here.] He doesn't always succeed, but several big hits have pushed him into the billionaire's club (he's actually worth an estimated $8.9 billion, according to Forbes).

    He's at it again. Icahn has been buying up shares of natural gas firm Chesapeake Energy (NYSE:CHK), and is gearing up some fresh cage rattling. Icahn just announced in a 13-D filing that his firm now owns 5.8% of the company and "intends to seek to continue to have conversations with the company's management to discuss the business & operations of the company and the maximization of shareholder value."  

  • Carl Icahn Recounts the Penzoil Texaco/Getty Oil Feud

    The Getty Oil takeover battle between Texaco and Pennzoil was probably one of the ugliest in Wall Street's history. In 1984, Texaco swooped in at the last minute with a winning bid before Pennzoil was able to finalize an already agreed-upon deal with Getty Oil.

    A furious Pennzoil filed suit and started a bitter legal feud that lasted for the following four years, which pushed Texaco into bankruptcy, until a settlement of $3 billion, brokered by Carl Icahn, was reached. At the time, Cal Icahn, a noted corporate raider and financier, accumulated over 13% of Texaco's stock in a failed attempt to take control of the board.  

  • Carl Icahn's Dynegy Power Struggle and Coming Showdown at Chesapeak Energy

    It has been a literal power struggle between Dynegy, Inc. (DNY) -- the third-largest U.S. independent power producer--and its investors. With weak natural gas prices dragging down power prices, Dynegy booked a net loss of $1.25 billion in 2009 and another $70 million loss in the first nine months of this year.

    Natgas Kills The Power  

  • Activist Investors Are Ready to Fight in 2011

    The Chinese Zodiac says 2011 is the Year of the Rabbit. According to tradition, it’s supposed to be a period of relative calm and diplomacy, where people should opt for negotiation, rather than forcing an issue.

    It would be nice if that happened. But don’t expect it to occur in the stock market.  

  • Carl Icahn Buys Mattel (MAT): What Does Icahn See in Mattel? And Should You Buy Mattel at $25?

    Carl Icahn recently bought 2.4 million shares of Mattel (NASDAQ:MAT). On average, Icahn paid $21.94 for his Mattel shares. The stock now trades at $25.64. That means Icahn already has a 17% gain on his investment in Mattel.

    Should you follow Carl Icahn into Mattel?  

  • Carl Icahn on Showdown with Lion Gate Entertainment Management

    The story of Carl Icahn’s investment in movie maker Lion Gate Entertainment (NYSE:LGF) is getting more tense every day. Here is what he has to say today about the management of the company.


  • Carl Icahn Buys Masco (MAS): What Does Icahn See in the Stock? And Should You Buy Masco at $12 a Share?

    Carl Icahn recently bought 5 million shares of Masco (NYSE:MAS) at an average price of $10.84 a share. This is a new position for Carl Icahn. He joins fellow Gurus Richard Pzena and Arnold Van Den Berg in the stock. Pzena owns more than 6% of Masco.

    So what does Carl Icahn see in Masco?  

  • Carl Icahn is “Cautiously Optimitic”; Top Purchases: MOT, CHK, MENT, MAT, MAS

    Carl Icahn talked to CNBC this morning. He is “sort of bullish” and “cautiously optimistic” on the stock market, giving credit to Fed Chairman Ben Bernanke, who according to Icahn, did something brilliant. There is a lot of cash on the sideline and it is coming out to be put in use.

    Much of the CNBC interview is on Lion Gate (LGF), for which Icahn extended a buyout offer three times before and he has just extended again:  

  • Carl Icahn Buys MAT, MAS, DYN, CMC, CDNS, Sells APC, YHOO, MCRS, ESV

    This is the Q3 portfolio update of legendary activist investor Carl Icahn. He seems to see a lot of new opportunities.

    Carl Icahn likes to buy into distressed situations, then forces change in the company operations. He likes even better if the whole industry is distressed.  

  • Carl Icahn Encourages Lions Gate Entertainment to Merger with MGM while Opposes Blackstone's Buying out Dynergy

    Activist investor Carl Icahn is very busy these days. While he embattle with the management of Lion’s Gate Entertainment Corp. (NYSE:LGF) in the court house over certain transactions, he actually expressed agreement on LGF’s proposal to merger with MGM. As if that is not enough, he disclosed his ownership of 9.95% in Dynergy and disclosed his opposition to Blackstone’s takeover bid.

    Here are two articles from Reuters on stories respectively:  

  • How to Invest With a Wall Street Legend

    An extremely valuable investment strategy is to keep tabs on what the major players on Wall Street are doing with their money. Warren Buffett, George Soros, Bill Gross, Mario Gabelli and Jeremy Grantham quickly come to mind -- especially considering they are more than willing to put their own money on the line. So does Carl Icahn.

    Icahn is an especially interesting subject, given his reputation as a corporate raider and activist shareholder willing to go head-to-head with management teams he deems inept or unable to maximize shareholder value. His moves have paid off -- Icahn is currently worth an estimated $10.5 billion dollars. Past moves that have paid off big include the sale of a handful of casinos in Nevada just as the market was crumbling in 2007. Reports put his proceeds at $1.3 billion -- $1 billion more than his purchase price. He has also been active in healthcare and succeeded in pushing MedImmune to be acquired by AstraZeneca (NYSE:AZN).  

  • Why Carl Icahn Keeps Buying The Hain Celestial Group Stocks

    The Hain Celestial Group, Inc. (NASDAQ:HAIN) manufacture, market, distribute and sell natural and organic products under brand names which are sold as “better-for-you” products, providing consumers with the opportunity to lead “A Healthy Way of LifeTM.” It is a leader in many natural and organic food categories, with such food brands as Earth’s Best® , Celestial Seasonings®, Terra®, Garden of Eatin’®, among many other. The company’s cleaning products are marketed under the Martha Stewart CleanTM brand.

    The company has enjoyed healthy growth during the past decade. On per share basis, revenue has grown at a 10.2% per year rate, even taking into account the decline in the most recent year.  

  • Carl Icahn's Favorite Stock -- Motorola

    Carl Icahn just can't help himself. Rather than sit patiently and wait for his large investment in Motorola (MOT) to ripen, he keeps pulling out his check book to buy another large block of the telecom giant's stock.

    In late August, he bought another $111 million worth of stock and now owns more than $1.8 billion or 10% of the entire company. He started buying when shares were on their way down to around $3 in early 2009, and he's been buying stock even as it has more than doubled off of those lows. Let's take a look at why he thinks Motorola is still nice at twice the price.  

  • Icahn in energy

    Carl Icahn has plowed $1 billion into energy stocks over the last 6 months according to his latest SEC filing. Says The NYTimes Dealbook column:

    [quote]Yet speculation is rife given the activist investor’s history with energy companies and his reputation for focusing on companies that he believes are undervalued and ripe for a shake-up in some way — with a restructuring or a sale among the possibilities.  

  • Carl Icahn Buys Anadarko Petroleum, Mentor Graphics, NRG Energy, Lawson Software Inc., Chesapeake Energy, Sells Adventrx Pharmaceuticals

    Activist invest Carl Icahn is very active these days. He initiated many new positions and added to the existing ones. These are the details of buys and sells for the second quarter.

    Carl Icahn owns 23 stocks with a total value of $3.7 billion. These are the details of the buys and sells.  

  • Icahn Sees Value in the Energy Patch

    As great investors often do it seems Carl Icahn stepped up in the second quarter of this year and made a big bet on the energy sector.  

  • Carl Icahn Discusses His Tender Offer for Lions Gate Entertainment

    Billionaire investor, Carl Icahn, shed light on his offer for Lions Gate Entertainment (NYSE:LGF). Icahn’s offer is to buy the shares of the company for $7.00 per share. The offer is expiring by Tomorrow (Wednesday). Icahn said he is paying a premium for the stock and he in no way is going to extend the offer beyond Wednesday.

    Icahn said the company needs to change direction: instead of being a producer, it needs to confining itself to be a distributor.  

  • If Icahn buys BP…

  • Icahn and Lions Gate Entertainment Feud Intensifies

    “Lions Gate Entertainment Corp. may be flirting with bankruptcy, according to Carl Icahn, the billionaire investor attempting a hostile takeover of the movie studio.” – Business News Network 6/11/2010

    The contentious battle over control of Lions Gate Entertainment (LGF) has heated up between activist investor Carl Icahn and the current board of directors. The two parties have exchanged a series of open-letters regarding Icahn’s hostile bid to buy the company for $7 per share for the Vancouver-based movie studio and television producing unit; a price that the board believes is much too low. The latest development is that Icahn has made it known that he will not extend his $7 offer past the current deadline next Wednesday. Furthermore, he is looking to acquire 6.4 million shares currently held by Mark Cuban, which would push Icahn’s stake over the 20% threshold that may trigger a default on some of its debts. The Dallas Maverick’s owner has hinted that he may be interested in tendering his shares to Icahn. It seems the two parties are in a game of chicken and the remaining shareholders are just along for the ride.  

  • View on Carl Icahn

    Imp read on Carl Icahn Mentor Graphics Investment  

  • Carl Icahn Top Holdings: Motorola Inc., Biogen Idec Inc, Genzyme Corp. , Amylin Pharmaceuticals Inc. Lions Gate Entertainment Corp., TakeTwo Interactive Software Inc.

    Carl Icahn is known for his activist investing and his investment performance has been good: since inception of 2004, his partnership Icahn Captial returned a total of 41.3%, beating S&P500’s 5.9%. In 2009, the partnership returned 31.9%, also beating S&P 500, as he disclosed in his 4Q09 letter to shareholders (see a copy at the end of this articles).

    But Icahn did not necessarily achieved his good performance through stocks. According to GuruFocus, which tracks Icahn Capital Management’s long equity position together with that of 70+ other investment gurus, as of March 31, 2010, he held only 3.18 $billion allocated among 16 stocks. We know Icahn manages far more money than this amount. long equity position was only 15.4% of his total portfolio at Icahn Capital L.P.. The rest is long credit (34.6%), short equity and short credit.  

  • Carl Icahn Buys Chesapeake Energy Corp., Genzyme Corp., Motorola Inc., Taketwo Interactive Software Inc., Sells Blockbuster Inc., CIT Group Inc.

    Activist investor Carl Icahn likes to push restructuring in companies that are in distress. Interestingly, he just got into Chesapeake Energy. He got out of two positions: Blockbuster Inc., CIT Group Inc. Maybe he is tired of losing money with Blockbuster Inc. This is the Q1 portfolio update of Carl Icahn. Carl Icahn buys Chesapeake Energy Corp., sells Blockbuster Inc., Cit Group Inc., Ultrashort Real Estate during the 3-months ended 03/31/2010, according to the most recent filings of his investment company, Icahn Capital Management LP. Carl Icahn owns 16 stocks with a total value of $3.2 billion. These are the details of the buys and sells.

    For the details of Carl Icahn's stock buys and sells, go to  

  • Carl Icahn Comments On His Offer Lion Gate Entertainment Corp.

    Activist Investor Carl Icahn is making his move again. This time he is on the case of Lion Gate Entertainment Corp. (NYSE:LGF). Looking to block Lions Gate from MGM Deal, Carl Icahn offered to buy the rest of the shares of LGF for $6.00 on March 19, 2010, a price only pennies above LGF’s then price. The offer, naturally, was rejected by the management.

    I think all the future shareholder-manager conflict should be debated on television:  

  • Lions Gate: Worth More Than Icahn’s Offering

    Lions Gate Entertainment (NYSE:LGF), a motion picture and television programming studio, is at the center of an increasingly contentious takeover attempt by activist investor Carl Icahn. For starters, Icahn already owns about 19% of the company, but he is unsatisfied with the current managements’ plans for a merger with fellow movie studio Metro-Goldwyn-Mayer, Inc (aka MGM) which put itself up for sale after failing to make interest payments last year. So, on March 19th Icahn offered $6 per share to buy the rest of the studio, only three cents better than the previous day’s closing price. The Lions Gate board has roundly rejected that offering price from Icahn calling it “financially inadequate and coercive,” and urged investors to reject the bid as well.

    Icahn, never one to shy away from a fight, issued a statement this morning where he says Lions Gate management has failed investors as evidenced by the stagnant stock price. The company’s stock has been in a holding pattern, as the rest of the market has rallied over the last year Lions Gate has returned a measly 11% in the last twelve months.  

  • Carl Icahn Publishes Letter to Investors and Comments on CIT Group Inc., Motorola Inc., Biogen Idec Inc., Trump Entertainment Resorts Inc.

    Carl Icahn is known for his activist investing. Thanks to Zerohedge who made a copy of Icahn 4Q09 Letter to Icahn Partners LP Investors available at One can get a glimpse of what’s happened with his investments and what goes on in his mind. GuruFocus tracks Icahn Capital Management’s long equity position. As of December 31, 2009, we record 2.87 $billion allocated among 18 stocks. We know Icahn manages far more money than this amount. As disclosed in his letter (Page 3), long equity position is only 15.4% of the total portfolio. The rest is long credit (34.6%), short equity and short credit. His investment performance has been good: since inception of 2004, the partnership returned a total of 41.3%, beating S&P500’s 5.9%. In 2009, the partnership returned 31.9%, also beating S&P 500.

    As for the future, Icahn seems to be very reserved. He is definitely not forecasting a “V”-shaped economic recovery, rather, he sees possibility of a double-dip recession, and the equity and credit market simply went ahead of the fundamental in 2009. As he stated in the letter (Page 6):
    The contrast between the investment environments of 2008 and 2009 could hardly be more stark. 2008 was defined by an utter lack of liquidity, while 2009 came to be a year of excess liquidity. With cash yielding close to nothing last year, yield-hungry investors felt that they could no longer sit on the sidelines. They plunged head first into both equity and credit, aggressively driving up the markets. Yet where and what were the signs suggesting that the fundamentals had changed and that the economy was on the mend? While some economic indicators showed signs of improvement towards year end, a key indicator, unemployment, still remains high.
    Icahn will not declare no victory unless employment picks up and corporate balance sheets cleaned up:
    We belive that until employment picks up, both the housing market and the overall economy will remain weak as debt-laden consumers will be unwilling (and unable) to open their wallets. Many consumers seem down-right scared to spend money. In short, we believe that a true economic recovery will require a healthier and more confident consumer. In addition, many corporate balance sheets are still impaired with too much leverage. I believe that this combination of obstacles will not be bypassed as quickly and easily as many seem to think.
    One has to question whether Icahn is talking down the economy as a gloom and doom economy is actually good for a distressed investor like himself – a point he is very frank about in the letter:
    an environment in which good companies with bad balance sheets are forced to file and reorganize is an environment in which we have the ability to earn outsized returns. Our team of investment and legal professionals is certainly one of the best in terms of its understanding of distressed debt, distressed of control situation, as well as the bankruptcy process.
    The current environment is ripe for some M&A activities, another area activist Icahn knows how to create value for his investors. Particularly, he sees marriages between cash-rich big pharma and tech-savvy biotech companies:
    One benefit of the increase in liquidity is a potential uptick in M&A activity due to the fact that some companies may begin to feel cash-rich while others may find themselves on the auction block. This paradigm is tailor made for the activist investor. While we don’t believe that the stars have aligned quit yet in many sectors, a notable exception is biotech. Big pharma is notoriously cash-rich, which means they are not dependent on financing, and we believe their appetite for biotech is as big as ever.
    Icahn also commented on the individual investments in his portfolio:  

  • Take-Two Interactive: The Icahn Turnaround Begins

    Shares of video game maker Take-Two Interactive (NASDAQ:TTWO) are surging in after hours trading following a much better than expected fiscal first quarter. Earnings per share came in at a loss of $.31 per share, which was twenty cents better than the consensus of analysts’ estimates. Perhaps more impressive was revenue of $163.2 million which easily topped TTWO’s guidance of $90-$140 million (although analysts thought it was overly conservative at the time). Also announced, the company will be cutting up to 15% of headcount to save $8 million this year and $15 million annually in what they termed as “targeted restructuring.”

    Take-Two has streamlined its focus in the quarter as the sale of Jack of All Games to SYNNEX (NYSE:SNX) was completed in the quarter, and netted the company up to $44 million. For the quarter ahead, Take-Two is looking for sales of $250-$300 million with profit of 20-30 cents per share. That guidance compares favorably to analysts’ expectations for EPS of 7 cents on$267 million in revenue. For the full year, TTWO still sees losses of 40-60 cents per share, while the Street has estimated a loss of 56 cents.  

  • Carl Icahn's Top Activist Plays: Motorola Inc., Biogen Idec Inc, CIT Group Inc., Genzyme Corp., Yahoo! Inc., Amylin Pharmaceuticals Inc.

    (GuruFocus, February 14, 2010) Carl Icahn is the opposite of Warren Buffett. Buffett looks for companies with good economic moats under good managers, then he will either to take the whole company private or take a minority position in the company. Either way, the precondition for Buffett to take a interest in a company is for it to possess a competent and honest management. Buffett does not supply managers. Carl Icahn, on the other hand, believes that managements and board of directors in the US are mostly either incompetent, corrupted, or both. If he sees a suitable target, he will build a stake a position, announce the interest, and demand company to make strategic changes to unleash its value.

    Robert Shiller, a Yale Business School professor brought Carl Icahn as a guest lecturer to Shiller’s Financial Markets class. Lecture 15 of the class features Carl Icahn. He discusses his thoughts about today's economy and American businesses and their inherent threats and opportunities. He believes that the biggest challenge facing corporate America is weak management and that today's CEOs, with exceptions, might not be the most capable of leading global companies. In the video, someone asked a question on Motorola proxy fight, an event happened in 2007, so the video is 2-3 years old.  

  • Carl Icahn on CEOs and Boards of Directors

    This article highlights the 2008 Commencement speech by Carl Icahn at Drexel University in 2008. The focus is on management in the United States and it's inability to compete. Icahn also says that boards of directors, for the most part, are just as bad. Unions are also a problem, but it is a minor problem. Carl Icahn is an activist investor who in the past has forced Time Warner Inc (ticker: TWX) to reinvent its board of directors to be more independent. He also has control of two seats at Biogen Idec Inc (ticker: BIIB) and is currently waging a proxy fight to get control over 3 more seats. Icahn has recently been a buyer of Genzyme Corporation (ticker: GENZ) and Forest Laboratories Inc (ticker: FRX).


  • Icahn Showing Strong Interest in Biogen Idec Inc – Valuation

    Carl Icahn is trying to add 3 more seats to the Biogen Idec Inc (ticker: BIIB) board of directors through a proxy fight. This is in addition to 2 seats that he already controls. He is also trying to lock the number of seats to 13. By doing this, he prevents any potential dilution of the board of directors. At the same time, he will essentially have strong oversight of the company.

    This action is a potential catalyst. It is likely that Icahn is trying to accomplish two things. First, he is hoping to improve the value of the company while possibly improving corporate governance. Speculatively, he is may also hoping to later sell Biogen to a larger company at a premium.  

  • Carl Icahn Considers Proxy Assault on Genzyme Corp.

    Billionaire investor Carl Icahn, who last year forced board changes at biotechnology company Biogen Idec Inc, may take aim at cross-town rival Genzyme Corp(GENZ), according to a source familiar with the situation.

    Icahn bought 1.5 million Genzyme shares in the third quarter, and some observers expect him to increase that stake as he considers a proxy assault on the biotech powerhouse.  

  • View on GENZ

    Will eventually fix manufacturing issues. Wide moat. Investors over-estimate competition.  

  • Near Graham net nets vs Ultra-low price-to-book value stocks

    I’m setting up a new experiment for 2009/2010 along the same lines as the 2008/2009 Net Net vs Activist Legend thought experiment pitting a little Graham net net against activist investing legend Carl Icahn (Net Net vs Activist Legend: And the winner is…). This time around I’m pitting a small portfolio of near Graham net nets against a small portfolio of ultra-low price-to-book value stocks. The reason? Near Graham net nets are stocks trading at a small premium to Graham’s two-thirds NCAV cut-off, but still trading at a discount to NCAV. While they are also obviously trading at a discount to book, they will in many cases trade at a higher price-to-book value ratio than a portfolio of stocks selected on the basis of price-to-book only. I’m interested to see which will perform better in 2010. The two portfolios are set out below (each contains 30 stocks). I’ll track the equal-weighted returns of each through the year.

    The Near Graham Net Net Portfolio:  

  • Carl Icahn’s activist investing master class at Yale: Commenting on Motorola Inc.

    Carl Icahn recently gave a guest lecture to Professor Robert Shiller’s Yale Financial Markets class.

    In the lecture, Icahn talks about how he started out in finance and evolved into a shareholder activist. He trots out a few of his old saws: the biggest challenge facing corporate America is weak management and today’s CEOs, with exceptions, might not be the most capable of leading global companies. He also discusses the economy and slaps down an undergrad Yalie who has the temerity to have him repeat an answer, which is fun to watch. There are a few gems, including this one:
    I was borrowing money and bought all these convertibles and I thought I was a genius and Jack Dreyfus said, you’re going to lose all your money. I had made a few bucks playing poker and that’s how I started with about eight, ten thousand dollars and I made all this money by borrowing at 90%. I would go out and I was making a lot more in two weeks than my father made in two years. My father said, well you know, put the money away. I said, no Dad, I’m really going to make a fortune here. So, I went out–I remember once–and bought a Galaxy convertible. It was a beautiful car. I had a beautiful girlfriend; she was a model–it was just pretty nice.  

  • View on Carl Icahn

    He is an invester with high degree of knowledge and makes logical reasoning in the process of making decision.  

  • Billionaire Validation x 2: Ron Burkle On Barnes & Noble (BKS) and Carl Icahn on Forest Labs (FRX)

    Lonely Value had received clear endorsements from 2 billionaires in just the last 24 hours.

    Yesterday, Barron's reported on Ron Burkle's $80 million purchase of Barnes & Noble (NYSE:BKS) shares. Burkle's company, Yucaipa increased its existing BKS stake to 9.8 million shares or 17% of total outstanding shares.  

  • View on Carl Icahn

    He's my mentor and what he buys, i have
    been buying as well, keeping in touch to see, what Icahn will be buying next .  

  • Carl Icahn Changed His Position to CIT Group Inc. PrePackaged Reorganization Plan

    (GuruFocus, November 1, 2009) Activist Investor Carl Icahn went to Fox Business Network explaining what exactly going on with small and middle business lender CIT Group Inc. In exchange giving the control of the board to the bond holders, the CIT Group Inc. is getting $1b from Carl Icahn as a line of credit during the prepackage bankruptcy period.

    CIT Group has gone through a series of financial and liquidity crisis during the past year due to credit losses. A month ago, the company announced a reorganization plan. Under the prepackaged plan, as amended and extended later on, CIT bondholders will get 70 cents on the dollar in the form of new notes and essentially most of the equity in the reorganized company.  

  • Carl Icahn leaves Yahoo!

    Carl Icahn resigned from Yahoo’s board of directors on Friday (October 23, 2009). His resignation letter reads as follows:

    [i]To the Yahoo! Board of Directors:  

  • Gurus Who Sold and Who Kept CIT Group Inc.

    (GuruFocus, October 19, 2009) Invest Guru Carl Icahn offers $6 billion to the troubled company CIT Group Inc. to replace the company’s tender offer to bond holders. He said the offer can save the company $144 million. The shareholder right advocator thinks the company’s own plan favor the larger bond holders and disadvantages the small guys.


  • Carl Icahn and Bill Ackman on REITS (Realty Income Corp (NYSE: O))

    Carl Icahn recently gave an interview on CNBC in which he discussed the risks of REITs right now. Bill Ackman also provided his thesis at the Great Investors Best Ideas conference in Dallas, TX. Ackman specifically stated that he is shorting Realty Income Corp (Public, NYSE:O). The Carl Icahn video is viewable at the bottom of this article.

    Carl Icahn  

  • Carl Icahn Top Stocks: Yahoo! Inc., Motorola Inc., Biogen Idec Inc, Amylin Pharmaceuticals, Lions Gate Entertainment Corp., Regeneron Pharmaceuticals

    (GuruFocus, October 10, 2009) Investment Guru Carl Icahn is known as a nadvocate for shareholder’s right and for his activism investment approach. His long career has rewarded him enormously. In 2008 his net worth was US$14 billion, putting him in an eight way tie for the 46th richest man in the world.In 2009 Forbes recalculated his net worth as $9 billion, but now he is in an eight way tie for the 43rd richest man in the world.

    Typically he will enter a substantial equity position or if it is a re-organization situation, a controlling debt position. He will then seek for board seats and saying in how the business should be run, which CEO should hire, or whether the company should purse a M&A. Here is a video in which he discussed some of his investments and his assessment for the current "bear market rally":

  • Carl Icahn Buys Lions Gate Entertainment Corp., Sells The Williams Companies Inc., Holds Yahoo! Inc. and Motorola Inc.

    Carl Icahn is not doing much with his portfolio these days. He even stopped writing blogs. But if he does something, it is usually big. This is the update of his Q2 portfolio.

    Carl Icahn sells The Williams Companies Inc. during the 3-months ended 06/30/2009, according to the most recent filings of his investment company, Icahn Capital Management LP. Carl Icahn owns 19 stocks with a total value of $2.8 billion. These are the details of the buys and sells.  

  • Carl Icahn, others lose Steel Partners challenge

    At GuruFocus we track the stock holdings of Investment Gurus. As hard as we work to do a good job, we have a few built-in short falls. One of the areas is on private equity investments the Investment Gurus made. There are simply no data reported so we can keep track of.

    Here is an example involving several of the gurus we follow:  

  • Carl Icahn Buys UltraShort Real Estate ProShares, sells Anadarko Petroleum Corp., TempleInland Inc., Life Technologies Corp

    This is the Q1 portfolio update of Carl Icahn's Icahn Capital Management LP. Carl Icahn likes to buy distressed situations. He is also a famed active investor, buy shares in a company and push for change. , he must see a lot of them these days. Carl Icahn owns 20 stocks with a total value of $2.3 billion. These are the details of the buys and sells.

    Carl Icahn buys UltraShort Real Estate ProShares, sells Anadarko Petroleum Corp., TempleInland Inc., FORESTAR RE GROUP, AMICUS THERAPEUTICS, INC., LIFE TECHNOLOGIES CORPORATION during the 3-months ended 03/31/2009, according to the most recent filings of his investment company, Icahn Capital Management LP.  

  • It's Up to the Shareholders, Not the Government, to Demand Change at a Company

    Several years ago, I bought a big chunk of 'distressed' debt in a major company and landed on the creditors committee when it filed for Chapter 11. Shortly thereafter, the bankers who were hired by senior management told me that I would have to pay retention bonuses to keep its top managers from leaving.

    The company, they warned, would crumble if these star managers left. Nine had already threatened to march out the door if they didn't get substantial bonuses. I told them I was fed up with retention bonuses. Where was the line waiting to hire these "star" managers who were responsible for bankrupting the company in the first place?  

  • Carl Icahn is reportedly trying to force MGM Mirage into bankruptcy

    The former owner of the Stratosphere and a large investor in Cannery Casinos are reportedly trying to force MGM Mirage into bankruptcy.

    The Wall Street Journal Thursday said corporate raider Carl Icahn and private equity fund Oaktree Capital Management have purchased large amounts of MGM Mirage’s corporate bonds in hopes of forcing the Strip casino giant into filing for bankruptcy to restructure the company’s $13.5 billion debt.  

  • Carl Icahn Buys Life Technologies Corp., Wendy's International Inc., Medarex Inc., Sells Advanced Micro Devices Inc., Citigroup Inc., J.C. Penney Company Inc.

    If Carl Icahn buys stocks in a company, he may do something to the companies' management and business operations. CEOs hate him, shareholders like him. These are what he bought and sold during the 4th quarter of 2008.

    Carl Icahn buys Life Technologies Corp., Wendy's International Inc., Medarex Inc., sells Advanced Micro Devices Inc., Citigroup Inc., J.C. Penney Company Inc., Lear Corp., Quest Resource Corp., Telik Inc., Time Warner Cable Inc., Time Warner Inc. during the 3-months ended 12/31/2008, according to the most recent filings of his investment company, Icahn Capital Management LP. Carl Icahn owns 24 stocks with a total value of $2.8 billion. These are the details of the buys and sells.  

  • Icahn Battles Black as Buyout Firms Press Bondholders

    Bloomberg has a piece on active investor Carl Icahn

  • Icahn and Alwaleed in Citigroup

    Both Carl Icahn and Prince Alwaleed have both expressed great confidence and interest in citigroup. I to believe their shares are extremely undervalued. Although buying shares here is highly speculative, I believe the risk to reward makes the investment worthwhile. It seems to me that Citigroup is to big to fail. Worst case scenario is they will be bought out for a ridiculously cheap price. I have added a 2% position in the company as a speculation play in my portfolio. Any ideas on Citigroup?  

  • Carl Icahn Buys Citigroup Inc., Endo Pharmaceuticals Holdings Inc., Advanced Micro Devices Inc., Sells Applera Corp. Applied Biosystems Group

    Activist investor Carl Icahn buys Citigroup Inc., Endo Pharmaceuticals Holdings Inc., Advanced Micro Devices Inc., Exelixis Inc., TakeTwo Interactive Software Inc., sells Applera Corp. Applied Biosystems Group, WCI Communities Inc. during the 3-months ended 09/30/2008, according to the most recent filings of his investment company, Icahn Capital Management LP. Carl Icahn owns 29 stocks with a total value of $4.5 billion. These are the details of the buys and sells.  

  • Say On Pay

    John McCain and Barack Obama finally agree on something: corporate accountability.

    'Say on Pay' has become a hot topic in the 2008 elections and highlights our faulty corporate structure. 'Say on Pay' may be the first step in emphasizing to our political leaders how important corporate governance is to the United States economy.  

  • Corporate Waste Brings this Nation Closer to the Brink

    Few things bother me more than the titanic government debt load this country carries from years of reckless government borrowing and spending. We really have no ability to repay this debt, other than by continually issuing new debt to pay the interest on the old debt.

    The Peter G. Peterson Foundation calculates that we as a country have racked up a staggering $53 trillion in government obligations. That’s $455,000 per household and growing at the rate of $2 trillion to $3 trillion a year "on autopilot," the respected think tank says.  

  • Carl Icahn Buys Yahoo! Inc., Motorola Inc., Emisphere Technologies Inc., Sells BEA Systems Inc., GUARANTY FIN GROUP, Perry Ellis International Inc.

    Billionaire activist invesor Carl Icahn's Yahoo position has been widely discussed. It seems now he finds opportunities in drug companies and his old favorite Motorola Inc. These are his buys and sells during the second quarter. Carl Icahn owns 25 stocks with a total value of $4.9 billion.

    Carl Icahn buys Yahoo! Inc., WCI Communities Inc., Emisphere Technologies Inc., sells BEA Systems Inc., GUARANTY FIN GROUP, Perry Ellis International Inc. during the 3-months ended 06/30/2008, according to the most recent filings of his investment company, Icahn Capital Management LP. Carl Icahn owns 25 stocks with a total value of $4.9 billion. These are the details of the buys and sells.  

  • Carl Icahn's blog: Corporate Democracy is a Myth

    The long awaited Carl Icahn Blog is live now. Read his comment on corporate democracy: "Recently, there has been a great deal of outrage concerning the huge pay and severance packages awarded to a number of CEOs. There has been much criticism of the fact that CEOs earn 520 times that of the average worker..."

    "A great deal has been made of the scandalous actions of a number of CEOs and boards concerning the backdating of options. Sadly, a much deeper, more pernicious, more threatening problem of the future of our economy exists at today’s corporations: many corporate boards and managers are doing an abysmal job. The lack of competent leadership makes our companies less competitive day by day, causing an upward spiraling trade and current account deficit, as well as a near meltdown of the financial sector..."  

  • Icahn Files 13D on Enzon Pharma

    Carl Icahn filed a 13D regarding his stake in Enzon Pharmaceuticals (ENZN) today.

    Icahn now may be deemed to beneficially own, in the aggregate, 3,072,103 Shares, representing approximately 6.93% of Enzon's outstanding Shares (based upon the 44,322,923 Shares  

  • Icahn Playing Hard-Ball with Motorola

    In a just released SEC filing, Icahn, who owns 6.4% of the stock, notified Motorola (MOT) management the gloves are now off. He is now urging his own Board nominations to shareholders.

    From the filing: "The election of the Nominees requires the affirmative vote of a plurality of the votes cast, assuming a quorum is present or otherwise represented at the Annual Meeting. As a result, your vote is extremely important. We urge you to mark, sign, date and return the enclosed GOLD proxy card to vote FOR the election of the Nominees.  

  • Carl Icahn's Lucrative $300M "Mistake"

    Mega-investor Carl Icahn says he may have been wrong to try to break up Time Warner, but despite his mistake, he had the last laugh by making $300 million on the company.

    Icahn talks to 60 Minutes correspondent Lesley Stahl about his battle against Time Warner and his aggressive investment strategies that tend to lift the price of stocks in profile to be broadcast this Sunday, March 9, at 7 p.m. ET/PT.  

  • Carl Icahn Buys J.C. Penney Company Inc., Time Warner Cable Inc., Forstar Re Group, Sells Rowan Companies Inc., Genzyme Corp., MeadWestvaco Corp.

    Billionaire activities investor Carl Icahn likes to buys stocks that are out of favor. He likes it even more if the whole industry is out of favor. The recent shakeup in fiancial sector certainly gives him opportunities. These are his buys and sells during the fourth quarter.

    Carl Icahn buys J.C. Penney Company Inc., Time Warner Cable Inc., Forestar Re Group, GUARANTY FIN GROUP, Perry Ellis International Inc., AMICUS THERAPEUTICS, INC., sells Acorda Therapeutics Inc., Genzyme Corp., Harrah's Entertainment Inc., MGI PHARMA Inc., MeadWestvaco Corp., Children's Place Retail Stores Inc., Rowan Companies Inc. during the 3-months ended 12/31/2007, according to the most recent filings of his investment company, Icahn Capital Management LP. Carl Icahn owns 31 stocks with a total value of $4.8 billion. These are the details of the buys and sells.  

  • Carl Icahn Buys Anadarko Petroleum Corp., Harrah's Entertainment Inc., Genzyme Corp., Compton Petroleum Corp., Sells Talisman Energy Inc., Alcoa Inc.

    Billionaire activities investor Carl Icahn likes to buy a small stake in a company and push for a change. He loves it if the industry is out of favor. He seems to be quite active these days as he is buying a lot. This is his portfolio updates for the third quarter.

    Carl Icahn buys Harrah's Entertainment Inc., Genzyme Corp., Compton Petroleum Corp., Children's Place Retail Stores Inc., Applera Corp. Applied Biosystems Group, MGI PHARMA Inc., TakeTwo Interactive Software Inc., Acorda Therapeutics Inc., sells Talisman Energy Inc., Alcoa Inc., Alcan Inc., Clear Channel Communications Inc., Global Payments Inc., Kraft Foods Inc., Pride International Inc. during the 3-months ended 09/30/2007, according to the most recent filings of his investment company, Icahn Capital Management LP. Carl Icahn owns 32 stocks with a total value of $4.6 billion. These are the details of the buys and sells.  

  • Carl Icahn Buys Biogen Idec Inc., Alcoa Inc., Kraft Foods Inc., Rowan Companies Inc., Adds to Motorola Inc.

    Activitist investor Carl Icahn's Icahn Management LP had a big increase in asset under management during the second quarter, and he bought a lot of stocks. These are his buys during the second quarter.

    Carl Icahn buys Biogen Idec Inc., Alcoa Inc., Kraft Foods Inc., Meadwestvaco Corp., Rowan Companies Inc., Bea Systems Inc., Alcan Inc., Macy's, Inc, Clear Channel Communications I, Lincoln National Corp., Global Payments Inc., Enzon Pharmaceuticals Inc., sells Medimmune Inc. during the 3-months ended 06/30/2007, according to the most recent filings of his investment company, Icahn Capital Management LP. Carl Icahn owns 31 stocks with a total value of $4.3 billion. These are the details of the buys and sells.  

  • Failed Lear bid has upside for Icahn

    Carl Icahn's failed attempt to buy Lear may ultimately prove to be a win-win situation for the billionaire investor.

    If Icahn had completed the acquisition, he would have paid $37.25 a share, little more than the $37.03 average price of the automotive-seat maker's stock since its initial public offering in 1994. After shareholders rejected the proposed $2.9 billion takeover, the stock rose well above the offer.  

  • Lear shareholders reject Icahn deal

    Lear Corp. shareholders rejected a $2.9 billion buyout offer Monday from a firm led by billionaire investor Carl Icahn, mounting enough opposition amid concerns that the bid undervalued the auto supplier.

    Icahn's American Real Estate Partners LP had improved its offer in the past week to $37.25 a share, but some shareholders said Lear was worth far more and questioned whether the deal was in their best interest.  

  • Icahn Says Private Equity Buyout Rush Has Peaked

    Billionaire corporate raider Carl Icahn, the man famed for hostile takeover battles for names such as TWA and RJR Nabisco, said Wednesday that the escalating amount of private-equity deals rushing the market this year has peaked.

    Icahn, who has spent more than four decades on Wall Street buying and selling companies, blamed private equity's downfall on the amount of money being paid these days to make an acquisition. The price tag of a private equity deal hit a new record in February when a consortium of buyout shops bought energy provider TXU Corp. for about $45 billion.  

  • Carl Icahn Buys Motorola Inc., Pride International Inc., Anadarko Petroleum Corp., Sells Take-Two Interactive Software, Cigna Corp., Sl Green Realty Corp.

    Billionaire activist investor Carl Icahn buys Motorola Inc., Pride International Inc., Anadarko Petroleum Corp., CSX Corp., sells Take-two Interactive Software, SL Green Realty Corp., Cigna Corp., Hilton Hotels Corp. during the 3-months ended 03/31/2007, according to the most recent filings of his investment company, Icahn Capital Management LP. Carl Icahn owns 26 stocks with a total value of $2.4 billion. These are the details of the buys and sells.

    New Purchases: APC, CSX, MOT, PDE,  

  • New Guru Added: Carl Icahn

    GuruFocus is very glad to announce that we have added billionaire investor Carl Icahn into our Guru Hall of Fame.

    Carl Icahn is an activist investor. He takes minority stakes in public companies and typically pushes for change. He invests with three investment vehicles: the 7 billion hedge fund, Icahn Partners, American Real Estate Partners (AREP), a public traded private equity firm, and Icahn Management LP, a $2 billion hedge fund. GuruFocus tracks the third portfolio, which covers all the stocks owned by Icahn Partners. Mr. Icahn has a personal wealth of $17 billion.  

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