Skip to main content

For four glorious years, Carl Icahn had a hotline straight to the Oval Office or whatever golf course President Donald Trump was “working” from. This came quite in handy when someone in Trump’s employ or otherwise indebted to/hoping to get something else from him went a bit off the reservation and started doing things Carl Icahn didn’t like, such as regulating people like Carl Icahn.

Well, Carl Icahn no longer has that hotline, and it shows, notably in the form of a new Securities and Exchange Commission proposal giving people like Carl Icahn only five days to amass their stakes before having to share with the class.

"This is a sad day for many American businesses, which need to replace incompetent chief executives rather than entrench them," said Icahn, one of the industry's most successful activist investors with a net worth of more than $16 billion…. While Icahn said the rule won't hurt him much because he doesn't need outside money, its potential to dampen returns will be painful for activists who must court outside investors.

U.S. activist investors, Icahn cry foul over proposed stock disclosure rule [Reuters]

For more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker.

Related

icahn-hulk

Carl Icahn Thinks Gas Utility Is Bloated Enough Already

And Uncle Carl knows a thing or two about that.

icahn-hulk

Carl Icahn Giving Cigna Management Benefit Of The Doubt Over ‘$60 Billion Folly’

Uncle Carl needs your help to save these people, who he loves and respects, from themselves and one of ‘the worst acquisitions in corporate history.’

icahn-hulk

Carl Icahn Had So Much Fun Screwing Around With Dell A Few Years Back That He’s Going To Do It Again

Uncle Carl doesn’t want a company he didn’t think should go private five years ago to go public again.

By US government [Public domain], via Wikimedia Commons

‘Wait, Senator, Don’t You Want To Hear About This Mug Who Said He Had An AI Supercomputer In His Mom’s Basement?’

Selections from the cutting-room floor of Gary Gensler’s Senate Banking Committee testimony.

icahn-hulk

Absolute Uselessness Of Company’s Management Dawns On Carl Icahn

All they had to do was try to spend $38 billion that Carl would like distributed to people like himself.

Icahn Miami

Coronavirus Keeps Killing Things Carl Icahn Doesn’t Like

First Occidental’s intransigence, now malls and a meddlesome SEC proposal.