DealBook reported this morning that Carl Ichan has "made clear" that he will try to destroy WCI Communities (or at least its board of directors) in order to save it. There's no source named in the DealBook story, no links to an underlying news story. But you should probably believe it for two reasons. One the same sort of thing is being reported all over the place. Two, we've seen DealBook editor Andrew Ross Sorkin in the same room as Icahn. Those two are, as they say, tight. If DealBook says battle mode, it's very possible that Andrew and Carl went to see "300" together this weekend and Carl came out looking for a fight.
Carl C. Icahn is getting tough with WCI Communities. The billionaire financier said Tuesday he would offer to buy the residential homebuilder for $22 per share — and if the company resisted, he made it clear that he would try to throw out the board and get the deal done regardless. WCI is just one of several companies that Mr. Icahn has been prodding in recent months in what has been an especially active period for the activist investor.
In many cases, he has gotten what he wanted. He successfully pushed for a breakup of Temple Inland and put his allies onto the board of Cyberonics