Carl Icahn

  • Not welcome in Canada

    Hedge Funds

    Now Canada Wants Activist Investors To Share With The Rest Of The Class

    If you’re an activist investor your job is to (1) think of an idea for how to make a company’s stock go up, (2) buy stock in the company, (3) convince them to do your idea, and (4) sell high. Step 3 tends to involve lots of attention-seeking – it’s easier to wear a company […]

    / Mar 22, 2013 at 5:20 PM
  • Obviously it parses Guy Who's Short Herbalife Says {Guy Who's Long Herbalife Saying [Guy Who's Short Herbalife Saying (Herbalife Is A Fraud) Is A Fraud] Is A Fraud}

    News

    Guy Who’s Short Herbalife Says Guy Who’s Long Herbalife Saying Guy Who’s Short Herbalife Saying Herbalife Is A Fraud Is A Fraud Is A Fraud

    One day Herbalife will either be put out of business by consumer-protection regulators or it won’t. If it is then Bill Ackman will make a lot of money and Carl Icahn will lose a lot of money, and if it isn’t Ackman will lose a lot of money and Icahn will make a lot of […]

    / Mar 13, 2013 at 3:53 PM
  • What is a lawyer?

    News

    Rise In Merger Lawsuits Helps Shareholders By Giving Them More Stuff Not To Read

    If you own stock in a company that announces it’s being acquired, and you think the acquisition price undervalues the company, there are three things you can do about it: you can vote down the deal, you can find or propose an alternate deal, or you can sue. No I’m kidding of course you can’t […]

    / Mar 8, 2013 at 6:02 PM
  • This means he's bluffing!

    M&A

    Carl Icahn Thinks That Whatever Company He Bought This Week Is Wildly Underpriced

    My thinking on Carl Icahn changes day to day but my current model is that he is a man who after a long and successful career in money management retired in March of 2011 to spend more time on his hobbies. And that his hobbies are irritating Bill Ackman, hijacking public company M&A deals, and […]

    / Mar 7, 2013 at 3:29 PM
  • Unimpressed

    M&A, News

    Prediction: Tomorrow Bill Ackman Will Announce That Dell Is A Pyramid Scheme

    In a Black-Scholes world you wouldn’t have long tedious arguments about whether an LBO represents a good deal for shareholders. You think Dell is undervalued at $13.65 a share? Hey that’s super. Pay $13.66 for 51% of the shares and vote the deal down.1 The end. There’s a certain class of debates that can be […]

    / Mar 6, 2013 at 5:57 PM
  • Carl Icahn, Forbes

    Bill Ackman Is A Billionaire

    Which is nice, although Carl Icahn is a billionaire 20 times over, and the richest alternative investment fund manager on Earth.

    / Mar 4, 2013 at 4:10 PM
  • Or weight loss shakes or whatever, I don't know, I just work here.

    News

    Carl Icahn Basically Just Going To Be A Vitamin Salesman Now

    If it ever looks like I’m trying to tell you what Carl Icahn is up to with Herbalife, don’t listen to me. I have no idea. How could you? Icahn now owns ~13% of Herbalife’s stock with a ~$36 basis, and he is somewhat constrained from selling it in the next six months by short-swing […]

    / Feb 28, 2013 at 7:04 PM
  • 1206_carl-icahn_416x416

    News

    Carl Icahn Not Sure If He’s Mentioned How He Feels About Bill Ackman

    Bloomberg: Do you think he’s made a mistake on this one? Icahn: Well, if you look at his record lately, he has made a few very big mistakes. I am not going to say just this one. I am not here to question Ackman. I do not want to get pulled into that again…I look […]

    / Feb 28, 2013 at 5:15 PM
  • Herbalife

    News

    Pershing Square: Herbalife Silenced Us

    Earlier today it was noted that, to the surprise of many, Bill Ackman and Carl Icahn had refrained from asking questions or dialing in and making sudden outbursts during this morning’s conference call to discuss Herbalife’s fourth quarter earnings.  Obviously this came as a shock on account of Ackman and Icahn taking many opportunities in the past to share their feelings re: the company and each other. And while it’s true both men personally held their tongue’s today, according to Pershing Square, one of its analysts had planned to ask questions on Bill’s and the hedge fund’s behalf but was shot down.

    / Feb 20, 2013 at 5:07 PM
  • icahn-ackman-260x183

    News

    Activist Investors Save Best Material For Next CNBC Cage Match

    Dueling billionaire investors Carl Icahn and William Ackman, who have gone toe-to-toe in a battle over the legitimacy of Herbalife Ltd., were silent Wednesday as the nutritional-supplements maker held a conference call to discuss its better-than-expected fourth-quarter earnings. Mr. Ackman has bet against the company’s shares, setting up a more than $1 billion short position […]

    / Feb 20, 2013 at 1:46 PM
  • I am going exactly nowhere

    News

    Carl Icahn Has Committed To Fight Bill Ackman For At Least The Next Six Months

    Have you had enough Icahn and Ackman and Herbalife yet? Probably, right? Still, I should mention two more things, mostly because I kind of got them wrong this morning. The first thing is that I thought Icahn is long via options, rather than shares, for financing reasons. He sometimes uses this method to avoid HSR […]

    / Feb 15, 2013 at 5:28 PM
  • AS LONG AS IT TAKES

    News

    Carl Icahn Won’t Say That He Bought Herbalife Just To Spite Ackman But If You’re Going to Write That, Let’s Just Say He Isn’t Going to Call You Asking For a Correction

    “Look, I’m in this to make money. That’s what I do. The fact that it might hurt Ackman, I’m not going to run and cry and do penance. You might like to say that it’s the strawberry on top for me, that’s up to you.” [Barron’s, related, earlier]

    / Feb 15, 2013 at 3:25 PM
  • Your move, ya schmo.

    Hedge Funds

    What? Carl Icahn Just Thinks Selling Diet Shakes And Herbal Tea Is A Really Good Business

    Yesterday Carl Icahn filed a 13D disclosing a ~13% synthetic stake in Herbalife. There are three possible reasons that Carl Icahn might want to own half a billion dollars worth of Herbalife stock: as a value investment in a company with strong cash flows and a beaten-up stock price, as a toehold in preparation for […]

    / Feb 15, 2013 at 10:31 AM
  • carl_icahn.03

    News

    Busy Friday for Carl Icahn

    Carl Icahn isn’t letting his harassing companies to do his bidding.

    / Jan 28, 2013 at 4:27 PM
  • oh yeah?

    News

    Men Dislike Each Other, Might Also Have Opinions On A Stock

    If you have an opinion on whether Carl Icahn or Bill Ackman got the better of today’s amazing CNBC shoutfest over Herbalife, you have a number of options for expressing it. We’ve had like four posts so, y’know, comment away, but if you want something more formal both CNBC and Business Insider have polls you […]

    / Jan 25, 2013 at 4:25 PM
  • icahn-ackman

    News

    How Should Bill Ackman And Carl Icahn Settle This Thing Once And For All?

    When Mark Hughs founded a multi-level marketing company called Herbalife in 1980, he probably thought it had the power to do a lot of things. Help people lose weight. Makes others rich. Shake up the diet industry. What he mostly likely did not expect, however, was that his li’l company that could would reignite a feud between two billionaires that would devolve into a flurry of press releases quibbling over who was dying to be friends with whom, shouting matches on live TV, and, we predict, someone telling someone else he has a right mind to “Rip the eyes out of your head and piss into your dead skull! You messed with the wrong hedge fund manager!”

    / Jan 25, 2013 at 2:38 PM
  • billackmanpershingsquare

    News

    Bill Ackman Thinks Carl Icahn Is A Great Investor, Bald-Faced Liar, Person Who Will Never Gain Admittance To The Friends Of Bill Ackman Society

    In response to Icahn telling Bloomberg he neither likes, nor respects the Pershing Square founder, Bill Ackman got a couple important points of his chest, the first being that 1. The feeling’s mutual, buddy! And 2. You can tell Carl Icahn is lying if his lips are moving.

    / Jan 25, 2013 at 7:30 AM
  • carlicahn

    News

    Carl Icahn Still Thinks Bill Ackman Is A Bum, But That’s Just, Like, His Opinion

    There are many people in the universe who are fans of hedge fund manager Bill Ackman. They like his style. His charm. The way he makes them feel. The fact that he’s not afraid to show his emotions or give them an honest opinion about their new dress or say “You know what? Those highlights really aren’t working for you.” Carl Icahn, however, is not one of those people. Save for a fleeting moment of supposed amicability following “a lengthy, boozy dinner,” Icahn has viewed Ackman as a punk for nearly a decade; an untrustworthy little jerk who Ichan’s friends supposedly told him not to do business with. (The feeling being more than a little mutual; as Ackman has put it, “The guy is a shakedown artist. His word is worthless.”) Anyway, in case anyone was wondering if the investors had put an end to their feud with another long, booze-filled meal, wonder no longer.

    / Jan 24, 2013 at 6:32 PM
  • There are, like, twenty great photos of him wearing this outfit alone. The man is expressive.

    News

    What Does Netflix’s Poison Pill Do To Carl Icahn?

    Are you not bored by corporate-raider battles? Netflix just adopted a poison pill in reaction to Carl Icahn’s acquisition of 9.98% of its stock and, of course it did, what else would it do? Just once I want to see a company say “actually you’re right, we’re hopeless, let’s sell this dog, highest bidder wins, […]

    / Nov 5, 2012 at 1:09 PM
  • Quikster? Meh, I could take or leave it.

    News

    Who Is Doing What To Whom On Carl Icahn’s Netflix Trades?

    If I were the sort of guy who could come in to a company, yell at them a bunch, and get them to sell themselves to someone else at a premium, I would: do that often!, and buy lots of call options on the stock before doing it. Right? If I bought the call options […]

    / Oct 31, 2012 at 6:01 PM
  • News

    First Class Customer Service At Marea Means Never Seating Bill Ackman Next To A CSMFPOS

    Increasingly, restaurants are recording whether you are a regular, a first-timer, someone who lives close by or a friend of the owner or manager. They archive where you like to sit, when you will celebrate a special occasion and whether you prefer your butter soft or hard, Pepsi over Coca-Cola or sparkling over still water. […]

    / Sep 5, 2012 at 1:24 PM
  • Carl Icahn

    News

    Carl Icahn’s CVR Energy Tactics Are Already Paying Off

    When a company does something that corporate-governance activists really don’t like, like adopting a poison pill, typically they announce that “the board decided unanimously to punch you in the face for your own good.” There’s some perception that, if they’re all in it together, the directors can’t be up to anything too unsavory. Forest Labs […]

    / Aug 28, 2012 at 4:30 PM
  • Pretend there's some joke here about his hand gesture etc.

    M&A, News

    Come Back Carl Icahn! CVR Energy Still Loves You! Or Something.

    I remain fascinated by this Carl Icahn – CVR Energy situation and wanted to add two curlicues to my conspiracy theory for why he dropped his bid. First: while it’s fun to think that he may be unable to pay above $30 for a CVR merger due to let’s say imperfections in his tender offer […]

    / Aug 23, 2012 at 4:11 PM
  • Carl-Icahn-1

    M&A, News

    Why Doesn’t Carl Icahn Want CVR Energy Any More?

    Carl Icahn’s strangely halfhearted takeover of CVR Energy got even stranger and more halfhearted last night: after acquiring an 82% stake at $30 in a tender offer, and suggesting to the board that they think about selling him the rest of the company at $29, he withdrew that suggestion last night. He gets sort of […]

    / Aug 22, 2012 at 4:08 PM
  • News

    Carl Icahn Gives Son Four Years To Prove Himself

    Ten years ago, Carl Icahn hired his son Brett to be an analyst at Icahn Enterprises and the kid didn’t fuck anything up so he got to keep his job. Two year ago, Carl gave Brett and another employee, David Schechter, $300 million to invest under the “Sargon portfolio,” and the guys returned 96 percent (before fees) through June. Last month, Carl tossed the duo an additional $3 billion and a contract that expires in 2016, at which time Papa Icahn will either officially Brett a worthy successor or offer to serve as a reference for his next gig.

    Under a 46-page legal agreement filed with federal regulators last month, Brett Icahn and Schechter will get to invest their boss’s capital in companies with stock market values between $750 million and $10 billion. The deal may free the elder Icahn, who still has final say over many aspects of the portfolio, to focus on larger targets for shareholder activism. Brett, who turns 33 this month, along with Schechter has been running $300 million for his father, who owns more than 90 percent of Icahn Enterprises LP, a holding company with $24 billion in assets including activist investing partnerships as well as the Tropicana casinos, an oil refiner and an auto-parts maker. The arrangement expires after Carl turns 80 in 2016, giving Brett the chance to both prove his mettle as a successor and develop a track record to start his own hedge fund.

    After hiring Brett as an investment analyst a decade ago, Icahn allocated the $300 million to his son and Schechter in April 2010 to invest in loans and securities of companies with less than $2 billion in equity value. Their investments, internally dubbed the Sargon portfolio, generated a gross cumulative gain of 96 percent by the end of June, according to a July 27 filing with the U.S. Securities and Exchange Commission…“These two guys doubled our money over the last two years,” the elder Icahn said in an interview. “You can’t complain about that.”

    Carl Icahn Hands Son Brett $3 Billion To Prove His Mettle [Bloomberg]

    / Aug 14, 2012 at 12:23 PM
  • M&A

    Carl Icahn Is Unimpressed With Goldman’s Efforts To Fight Off Carl Icahn

    And so he’s not paying them on principle, the principle being I suppose “don’t fuck with Carl Icahn”: Carl Icahn says he isn’t paying a bill from Goldman Sachs Group Inc., on principle. … “These guys were hired to keep me from buying the company at $30 and they failed,” Mr. Icahn said in an […]

    / Jun 22, 2012 at 3:57 PM
  • You want it to be one way. But it's the other way. See my hands.

    M&A, News

    Goldman Surprised To Find Carl Icahn Being Kind Of A Dick

    Sell-side M&A work is mostly a pretty good and lucrative business model but it has a few flaws. Try to spot a key one here:
    (1) you represent a target;
    (2) you spend your days fighting tooth and nail with the buyer to try to make them pay more and give up optionality, and generally to get more of the benefits of the deal for the target than for the buyer;
    (3) then the buyer acquires the target, fires all the directors and officers, changes the locks, and replaces the stationery;
    (4) then you get paid.

    Did you spot the problem? Carl Icahn did:

    / Jun 21, 2012 at 5:30 PM
  • M&A, News

    CVR Energy Shareholders Surprised To Find Carl Icahn Acting Like A Corporate Raider

    If you want to buy a company you can do it in one of two ways: you can negotiate a merger with the board, put it to a shareholder vote, and if you get above 50% then all the other shareholders are basically forced into the deal and you pay the merger price. Or you […]

    / Jun 7, 2012 at 12:51 PM

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