Carl Icahn gave a post-game report on last evening’s dinner with Apple CEO Tim Cook on CNBC this afternoon. It was…interesting.
Billionaire hedge fund manager Carl Icahn took a big $1 billon stake on Apple. He may end up winning even if he fails to get the company to increase its dividend or share buyback program.
Michael Dell and Silver Lake Partners sweetened their bid by offering a 13-cent dividend in exchange for delaying the vote until Sept. 12 so they can have time to sway shareholders to accept the new offer. Now updated with Icahn’s comments.
Most of Apple’s $145 billion in cash is parked overseas, so issuing debt allows the company to avoid the tax hit that money would be subject to if brought back to the U.S.