Icahn Activity Pushes Lawson Software (LWSN) To New 52-Week High
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Shares of enterprise software company Lawson Software (Nasdaq: LWSN) closed up 3.6% today, to a new 52-week high, following a 13D disclosure earlier in the week that activist investor Carl Icahn built up an 8.5%, or 13,815,900 share, stake in the company.
In the filing, Icahn explained that he bought the stock on the belief that they were undervalued. Icahn also said he plans to have conversations with management to discuss the business and operations and ways to maximize shareholder value.
Shares of Lawson are up 9% since the disclosure.
With Icahn involved with the company, takeover speculation has been swirling around the name. Icahn has a history of pushing for company management to sell.
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In the filing, Icahn explained that he bought the stock on the belief that they were undervalued. Icahn also said he plans to have conversations with management to discuss the business and operations and ways to maximize shareholder value.
Shares of Lawson are up 9% since the disclosure.
With Icahn involved with the company, takeover speculation has been swirling around the name. Icahn has a history of pushing for company management to sell.
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