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’Icahn outbids Penn for casino resort
Activist investor Carl Icahn has offered $156.5m to acquire the partially built Fontainebleau Las Vegas resort, which has been stalled in bankruptcy court since June, reports Reuters. At a bankruptcy court hearing on Monday in Miami,
CIT files for bankruptcy
CIT Group, the troubled US commercial lender, on Sunday filed for bankruptcy after attempts at a restructuring or bail-out failed. In a statement, CIT said it had asked the bankruptcy court to quickly confirm its prepackaged bankruptcy plan,
Ross, Icahn expect a commercial real estate crash
Carl Icahn is a busy man. On the same day he agreed a restructuring plan with constantly-on-the-verge-of-bankruptcy CIT, he told Bloomberg’s Tom Keene he quite concurred with Wilbur Ross’ earlier assessment of the outlook for commercial real estate in the US,
Icahn offers to underwrite CIT loan
Carl Icahn, the activist investor, on Monday offered to underwrite a $6bn loan for CIT Group, the troubled US lender, as he accused CIT of overpaying for a new loan from existing lenders to win support for its reorganisation plan.
The Icahn bounce
Carl Icahn is enjoying something of a resurgence.
According its latest letter to investors (via Bloomberg), the flagship Icahn Partners fund is up 16 per cent in 2009. Of particular note though is the fact that 7.3 per cent of those gains were made in the last month alone,
Icahn, Kerkorian in Vegas showdown
Two of the best-known US investors are preparing to face off in a high-stakes game that could reshape the face of Las Vegas, reports the WSJ. Activist investor Carl Icahn is pushing troubled casino operator MGM Mirage to restructure in bankruptcy court,
Icahn moves on Lions Gate
Carl Icahn has increased the pressure on the board of Lions Gate Entertainment by announcing plans for a tender offer for as much as $325m of the group’s debt. The activist investor has built a stake of about 15% in the embattled studio,
Icahn set for Lions Gate showdown
Carl Icahn has set the stage for a hostile proxy fight with Lions Gate Entertainment after failing to secure any places on the Hollywood studio’s board. The activist investor, a long-time shareholder in Lions Gate,
Clash of the activist investors: ‘Man of Steel’ sued by the ‘man who can’
There is a rather nice irony about a clash between rabble-rousing activist investors, particularly when two of the more dogged types – Carl Icahn and Warren Lichtenstein – go head to head.
After news earlier this week of an intriguing (some say “ingenious”
Eli Lilly may offer rival bid for ImClone
Eli Lilly is considering a takeover bid for ImClone of roughly $70 a share, which would value the cancer drug maker at $6.1bn and would trump Bristol-Myers’ $62 per-share unsolicited offer, according to a person close to the matter.
Mystery suitor approaches ImClone
ImClone on Wednesday formally rejected a $60-per-share offer from Bristol-Myers Squibb to buy the 83% of the company it does not already own, and countered Bristol-Myers’ offer by disclosing it has received a $70-per-share bid from another suitor.
Yahoo board appoints Icahn nominees
Yahoo Inc said Thursday it had appointed former Viacom CEO Frank Biondi and former Nextel Partners CEO John Chapple to its board as part of a settlement with investor Carl Icahn, reports Reuters. Yahoo settled its proxy fight with Icahn ahead of its Aug 1 shareholder meeting.
Why Carl Icahn is good for investors
Kickstarting the debate: “Why Carl Icahn is bad for investors”
Cue fisk:
In my opinion, the article was so wrongheaded that I am surprised that it was afforded an appearance in a premier business newspaper.
Icahn ups stake in Biogen
Activist investor Carl Icahn boosted his stake in Biogen Idec to 6% from about 4.3%, taking advantage of a recent plunge in the biotechnology company’s shares, reports the WSJ. The purchases, amounting to about $259m,
Icahn: Well, maybe I can’t — at least, not on my own….
It’s tough fighting corporate tyranny, making billions and maintaining your own blog, as Carl Icahn, the zillionaire activist investor, has discovered since his dramatic and much-heralded entry to the world of blogging earlier this year.
Imclone: $4.5bn Bristol-Myers bid too low
Imclone’s board on Monday said Bristol-Myers Squibb’s $60-per-share takeover bid appeared too low but added it would still hire advisers to study the unsolicited offer, in a move analysts said appeared to be the “first step towards negotiation”.
Bristol-Myers in $4.5bn Imclone offer
Bristol-Myers Squibb offered on Thursday to buy the 83% of ImClone it does not already own for $4.5bn, leaving Carl Icahn, chairman of the biotechnology company, to decide whether to negotiate over a deal.
Calm descends as Yahoo proxy storm ends
Yahoo’s annual meeting convenes on Friday with Jerry Yang, chief executive, and his board secure in the knowledge they will be re-elected, but knowing they may have won only a temporary reprieve from disaffected investors.
Activist blogging?
We were waiting.
Activist investor Carl Icahn has posted his thoughts on the Yahoo proxy battle on his blog – the Icahn report. Unredacted, you can read them here.
The short version though, is that it seems,
Yahoo results reassure after bid battle
Yahoo on Tuesday said it had achieved solid Q2 results in a difficult economic environment. Despite a year-on-year drop in profits, and revenues falling short of Wall Street expectations, its shares traded higher in after-hours trading as it maintained its forecasts for the full year.
Yahoo buys time with Icahn ceasefire
Yahoo bought some breathing space on Monday in its long struggle to remain independent, agreeing a ceasefire with Carl Icahn in return for giving up three board seats to the activist investor. But some analysts warned that the pact would not end the fierce battle with Microsoft that has transfixed the consumer internet business for much of this year.
YahooCahn!
Capitulation?
*YAHOO IN PACT WITH CARL ICAHN TO SETTLE PENDING PROXY CONTEST
*CARL ICAHN TO BE APPOINTED TO YAHOO BOARD
*ICAHN TO WITHDRAW HIS NOMINEES FOR CONSIDERATION TO YAHOO BOARD
*ICAHN TO VOTE HIS SHARES IN SUPPORT OF THE BOARD’S NOMINEES
But from who?
Icahn’s fight against Yahoo’s board was,
Yahoo rejects Microsoft-Icahn offer
Yahoo said it had rejected an attempt by Microsoft and Carl Icahn, the activist investor, to replace its board immediately and buy its search business, condemning the joint move as an “odd and opportunistic alliance”.
Microsoft steps up battle over Yahoo board
Microsoft set the stage for a full-blown battle to overthrow Yahoo’s board of directors when it declared it was interested in reopening talks to buy all or part of the internet company – but only if a new board was appointed first.
Icahn: the first reponse
Now be nice, people.
He may not have the snappy prose or the irreverent wit of a seasoned blogger, but then most seasoned bloggers haven’t made billions of dollars (and aren’t constrained by rank upon rank of lawyers).
Icahn (Finally) Haz a Blog?
The wait is almost over. Carl Icahn will launch his long-awaited blog – The Icahn Report – on Thursday, according to Reuters.
Icahn has been teasing the blogosphere since February, when he said he intended to offer anecdotes and a running commentary on “the desultory state of corporate governance in America.”
Yahoo postpones showdown with Icahn
Yahoo on Thursday postponed its showdown with Carl Icahn, the billionaire investor seeking to oust its board and sell the company to Microsoft. The internet company said it was putting off its annual meeting roughly until the end of July for regulatory reasons.
Icahn gains hedge fund support on Yahoo
Third Point, a $5.7bn hedge fund headed by activist Dan Loeb, has recently accumulated a stake of over 5m shares in Yahoo and is supporting investor Carl Icahn’s proxy battle, Reuters reports. Third Point,
Icahn launches proxy battle against Yahoo
Carl Icahn, the billionaire investor, has unleashed a proxy fight to remove the Yahoo board and resurrect a takeover bid for the internet company by Microsoft. In a letter to Roy Bostock, Yahoo’s chairman,