Carl Icahn schedules more meetings with Tim Cook over Apple share buyback plan
Friday, August 23, 2013/
Maverick investor Carl Icahn has taken to Twitter to reveal he has held another conversation with Apple chief executive Tim Cook, and is planning a dinner meeting with him next month.
“Spoke to Tim [Cook]. Planning dinner in September. Tim believes in buyback and is doing one. What will be discussed is magnitude,” Icahn tweeted.
As SmartCompany reported last week, Icahn managed to cause Apple’s share value to rise by 5%, or $US12 billion, after revealing he had purchased stock in the tech giant.
“We currently have a large position in APPLE. We believe the company to be extremely undervalued. Spoke to Tim Cook today. More to come,” Icahn’s initial tweet said.
It was followed up moments later with a second tweet revealing he was in negotiations with Cook over a share buyback.
“Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly.”
Dell is currently subject to a battle for control between a consortium of private equity firm Silver Lake Capital, founder Michael Dell and Microsoft, who are seeking to take the struggling computer maker private, against a rival bid led by Icahn.
For its part, Apple is expected by analysts to unveil a new range of high-end and low-end smartphones next month.