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As far as we are aware, Carl Icahn’s preferences when it comes to liquid refreshment are limited to a perfect vodka martini and chilled sauvignon blanc (and definitely do not include diet shakes). When it comes to canned beverages, all we know is that he thinks that the people running Coca-Cola, much like the people running pretty much every other company, are vastly overpaid.

But when it comes to the cans themselves, well, there he has some rather pointed preferences. Namely, that the people making them give him more money and stop wasting their time on other crap.

The billionaire activist investor has a stake worth about $700 million, making him [Crown Holdings’] second-largest holder…. Crown also runs an aerosol and food-packaging business that manufactures cans for household products and snacks.

Mr. Icahn believes the company should consider spinning off or selling these noncore assets, which also include a minority stake in a European food-can business, the people familiar with the matter said. That would allow the company to focus on the beverage-can business, which Mr. Icahn believes is undervalued and poised to grow.

The octogenarian also believes the company could buy back more stock, the people said.

Carl Icahn Has More Than 8% Stake in Beverage-Can Maker Crown Holdings [WSJ]

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