Icahn, Apple CEO To Dine, Talk Buyback

Aug 23 2013 | 5:49am ET

Carl Icahn is keeping his fans apprised of his burgeoning friendship with Apple Inc. CEO Tim Cook on Twitter.

Icahn last month announced that he had taken a “large position in Apple” on the social-networking service and that he would push the company to launch a larger share buyback program.  At the time, he wrote that he and Cook had “a nice conversation” and planned “to speak again shortly.”

That conversation will apparently happen over a meal next month, Icahn told his Twitter followers yesterday.

“Spoke to Tim,” the billionaire hedge fund manager tweeted. “Planning dinner in September. Tim believes in buyback and is doing one. What will be discussed is magnitude.”

Apple has said that it plans to return $100 billion to shareholders by the end of 2015. Icahn wants the company to buy back $150 billion in shares, taking on debt to do so.


In Depth

Exotic Assets: Investing In Rare Violins

Jan 17 2017 | 4:43pm ET

By definition, alternative investments include exotic assets far beyond your typical...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Trump Administration: What It Could Mean for Carried Interest

Jan 19 2017 | 5:25pm ET

The arrival of the Trump administration brings the potential for a repeal of the...

 

From the current issue of

As initial anxiety over Donald Trump’s victory gave way to market euphoria in the days following the election, there was a casualty. Gold prices.