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NEWS ABOUT: Carl Icahn

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Icahn Makes $10.2B Bid for Clorox

Billionaire investor has big target in mind

(AP) - Carl Icahn is offering to take Clorox private in a deal that values the consumer products maker at about $10.2 billion. The billionaire investor’s firm has proposed paying $76.50 a share for Clorox, which, in addition to cleaning products, makes Hidden Valley salad dressing and the Burt'... More »

Two Gamblers Take NJ Casino for $11M

Winning craps player leaves $150K tip

(Newser) - The balance sheet of Atlantic City's Tropicana Casino has taken a pounding from a pair of high rollers who won more than $5 million each just 6 weeks apart. A blackjack player beat the casino for $5.8 million in April and a craps player won $5.3 million... More »

Zuckerberg, 15 Other Tycoons Vow to Give Away Fortunes

Facebook founders join Gates, Buffett's 'Giving Pledge'

(Newser) - Facebook founders Mark Zuckerberg and Dustin Moskovitz, the youngest billionaires in America, have become the youngest billionaires in history to pledge to give away most of their money. The pair are among 16 billionaires who have recently signed the "Giving Pledge" organized by Bill Gates and Warren Buffett, the... More »

Hedge Fund Managers Rake In Record $25B

Top 25 managers cleaned up by betting on bank bailout

(Newser) - Betting correctly that the federal government would not let more banks fail after the cruel denouement of 2008, hedge fund managers engineered a record payday for themselves in 2009. The top 25 brought in $25.3 billion, topping 2007’s record by a healthy margin, and the $4 billion taken... More »

Mega-Lender CIT Files Chapter 11

Bailed-out firm's move will cost government $2.3B

(Newser) - CIT Group, a major lender to small and medium-sized American businesses, filed for Chapter 11 today. The move means the government is most likely out the $2.3 billion in TARP bailout funds it put up last year. The "prepackaged" procedure is intended to allow CIT, which reported $71... More »

Taxpayers Must Become Activist Investors: Icahn

What the government did at GM should be a lesson: get rid of bad leadership

(Newser) - Barney Frank was right when he said a retention bonus is “a nice word, it turns out, for extortion,” writes Carl Icahn for the Huffington Post. “Very few managers are irreplaceable, especially in this economy”—so why do they get paid extra to stay with a... More »

Icahn Stock Grab May Signal New Yahoo CEO

(Newser) - Corporate raider Carl Icahn bought about $65 million in Yahoo shares this week, sparking AllThingsD blogger Kara Swisher to speculate that an "Icahn-friendly" CEO is on the way. Icahn's purchase, likely an attempt to recoup the $900 million he lost on his Yahoo stake this year, points to two... More »

Hedge Fund Selloffs Behind Swooning Dow

Investors cashing out in record numbers to meet obligations

(Newser) - Hedge funds are increasingly to blame for the swooning Dow, the Wall Street Journal reports, as demands from investors to withdraw funds have sparked a securities selling frenzy in recent days. The rush to withdraw comes as investors—endowments and  pension funds as well as wealthy individuals—see other investments... More »

Market Meltdown Reshapes Forbes Rich List

Buffett bumps Gates in redrawn rankings of world's wealthiest

(Newser) - The mortgage meltdown has certainly hit middle-class Americans hard but hasn't spared the uber-wealthy, Bloomberg reports. Las Vegas Sands CEO Sheldon Adelson’s net worth shed $4 billion between Aug. 29 and Oct. 1, for instance, while Warren Buffett overtook Bill Gates, whose net worth declined $1.5 billion, as... More »

Yahoo Board OKs New Round of AOL Talks

Time Warner anxious to decide on service's future

(Newser) - A Yahoo board of directors now stocked with allies of activist investor Carl Icahn cleared the way yesterday for reigniting talks on combining with AOL, the Financial Times reports. Time Warner’s chief is eager to decide AOL’s future “fairly soon,” but is hoping Microsoft will join... More »

Bristol-Myers Makes Bid for Icahn's ImClone

Offers 29% premium for biotech partner; shares soar

(Newser) - Already a 17% shareholder, Bristol-Myers Squibb laid down a $4.5 billion offer to buy the  rest of ImClone shares, the Wall Street Journal reports. The $60-a-share offer, sent to ImClone chairman Carl Icahn today, is a 29% premium on yesterday's closing price and makes Bristol the second pharma giant... More »

An Independent Yahoo Is Hard to Imagine

Iffy Q2 results make a deal, with Microsoft or Google, best option

(Newser) - Yahoo’s earnings report yesterday didn’t portend an immediate turnaround, Catherine Holahan writes in BusinessWeek, meaning the company must do something to meet the “grandiose claims” it made in rejecting Microsoft’s bid. Some still see Yahoo ultimately taking that path, and expanding its deal with Google is... More »

Deal Puts Icahn on Yahoo Board

Activist investor gets seats for 2 allies

(Newser) - Yahoo will add two seats to its board of directors and put Carl Icahn in one of them, reports the Wall Street Journal, in a deal that ends Icahn’s proxy fight. Eight of Yahoo’s current board members, including CEO Jerry Yang, will keep their seats, while a ninth... More »

Yahoo Takes Icahn Fight to Homepage

Link shows decline in businesses he's worked with

(Newser) - A new button on Yahoo's homepage links users to the company's case against activist investor Carl Icahn, PC World reports. Icahn is seeking to unseat Yahoo's board at its Aug. 1 general meeting. The page links to voting forms and leaves shareholders in no doubt how the company thinks they... More »

Yahoo Snubs Microsoft-Icahn Takeover Bid

Says new offer was better, but still not in shareholders' interest

(Newser) - Yahoo has rejected another takeover push, this time from Microsoft and investor Carl Icahn, the Wall Street Journal reports. The bidders gave the Internet giant less than 24 hours to decide on an offer that would sell its search component to Microsoft and the rest of the company to Icahn... More »

Yang Slams 'Destabilizing' Microsoft Plan

CEO accuses Icahn-allied giant of pretending to want deal

(Newser) - Yahoo CEO Jerry Yang launched a fresh offensive in the Yahoo-Microsoft war of words yesterday, reports the Wall Street Journal. Microsoft has said it would be interested in reopening merger talks if Yahoo's current board was replaced—but the Yahoo co-founder accuses the company of tactics to destabilize Yahoo without... More »

Icahn: Microsoft Will Only Negotiate With Me

Board must be replaced, Ballmer says

(Newser) - Carl Icahn says Microsoft is still in the hunt to acquire Yahoo, but only if the board is replaced, the Wall Street Journal reports. Icahn says Microsoft CEO Steve Ballmer “made it abundantly clear” to him that he wouldn’t talk with Yahoo’s current board, which he fears... More »

Microsoft Preps a New Run at Yahoo

Has been recruiting partners for another effort to vivisect Yahoo

(Newser) - Microsoft is back in pursuit of Yahoo, the Wall Street Journal reports, with the company in talks with both News Corp. and Time Warner as potential partners for a restructured deal to buy the search giant. Yahoo has been in Microsoft’s sights for nearly six months, but initial efforts... More »

Yahoo's Defensive Stance: Microsoft 'Inconsistent' in Bid

Company gives take on negotiation as clock ticks on Icahn proxy fight

(Newser) - As it tries to fend off investor Carl Icahn's attempt to replace its board of directors, Yahoo today presented its version of buyout negotiations with Microsoft to shareholders, MarketWatch reports. Yahoo portrayed Microsoft as “unresponsive, inconsistent,” and loose on logistic details of the proposed merger. "The record... More »

Yahoo Defends Rejection of Alternate Microsoft Offer

Seeking to blunt attacks from Carl Icahn, the company goes to shareholders

(Newser) - Yahoo yesterday launched an offensive against billionaire Carl Icahn’s attempt to displace the board, detailing in a letter to shareholders why accepting Microsoft’s alternative $8-billion search-only deal would have diminished Yahoo’s value and hurt the company strategically, reports MarketWatch. CEO Jerry Yang and Chairman Roy Bostock said... More »

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