Carl Icahn apparently isn’t done with Apple Inc. (NASDAQ:AAPL). About this same time last year, Icahn pushed Apple management to start buying back as many shares as possible as quickly as possible. He backed off after months of pushing, but he’s at it again. There’s something else he wants from the company.
Icahn to send open letter to Apple management
Today the activist investor tweeted that they will be sending an “interesting” open letter to Apple CEO Tim Cook.
Tmrw we’ll be sending an open letter to @tim_cook. Believe it will be interesting.
— Carl Icahn (@Carl_C_Icahn) October 8, 2014
There have been no further details about what might be in that letter, but according to CNBC’s Scott Wapner, Icahn’s son Brett and also Dave Schechter, a senior investment analyst and director at Icahn Management LP, will somehow be involved. Wapner said today that all of them will be on his show Halftime Report tomorrow at noon Eastern.
Icahn hits up Apple again
Apple management somewhat placated Icahn by increasing the company’s dividend and buying back some shares. However, he would have liked to see even more, as he was originally pushing for $150 billion in share repurchases. Of course he’s naturally taking credit for the increase in Apple’s share price since he got involved in the company, and he couldn’t help “tweeting” his own horn, so to speak:
Just over 1yr ago we tweeted our large position in $AAPL & belief the company extremely undervalued. Since then, stock is up 50.6%
— Carl Icahn (@Carl_C_Icahn) October 8, 2014
Icahn currently owns nearly $5 billion worth of Apple Inc. (NASDAQ:AAPL) stock. He’s been building that stake gradually. About a year ago, he did manage to talk Apple CEO Tim Cook into meeting with him, although Cook didn’t give in to his demands at that time. Maybe he’ll ask for another meeting with Cook in the open letter he’s sending tomorrow. We’ll just have to wait and see what he wants though.
