toggle

AAPL Stock: 109.27 ( -1.1 )

Printed from http://www.macnn.com

Carl Icahn declares 'good conversation' with Apple CEO Tim Cook

updated 01:18 pm EST, Mon November 11, 2013

Investor quiet on progress of stock buyback agenda

Rich investor Carl Icahn has again spoken with Apple CEO Tim Cook, CNBC reports. Icahn tells the network that he had a "good conversation" with Cook in the past few days, and that both sides agree Apple stock is undervalued. The parties are also allegedly continuing to explore the possibility of an expanded share buyback program.

Icahn, who owns some $2.5 billion in Apple shares, has been pushing aggressively for an "immediate" $150 billion stock buyback program. Apple is already in the midst of a $60 billion buyback program, partly financed by debt, and due to conclude by the end of 2015. The two sides have allegedly squared off about how much control Apple executives should have over the company's cash reserves; Icahn has said he will consider using a proxy vote to force an expanded buyback if he can garner enough support from shareholders.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

Blue Yeti Studio

Despite being very familiar with Blue Microphones' lower-end products -- we've long recommended the company's Snowball line of mics ...

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

toggle

Most Commented