Icahn Goes Organic (HAIN)
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Shares of organic food maker The Hain Celestial Group, Inc. (Nasdaq: HAIN) are seeing a boost today after activist investor Carl Icahn disclosed an 11.92%, or 4,865,215 share, stake in the company in an 13D filing Thursday evening.
Icahn did not have a stake in the company at the quarter ended December, 31 2009.
In the filing, Icahn noted that he bought the shares on the belief that they were undervalued. In addition, Icahn noted he or his firm held talks with Pres/CEO Irwin Simon. The tone of the filing appeared positive as Icahn said, "I look forward to working with management."
Some of Icahn's position is based on underlying call options.
Icahn has been aggressively accumulating the stock since April. He is also now a Form 4 filer.
No one was immediately available a the company to comment on Icahn's new stake.
Shares of Hain Celestial are up 6.2 percent today to $22.50.
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Icahn did not have a stake in the company at the quarter ended December, 31 2009.
In the filing, Icahn noted that he bought the shares on the belief that they were undervalued. In addition, Icahn noted he or his firm held talks with Pres/CEO Irwin Simon. The tone of the filing appeared positive as Icahn said, "I look forward to working with management."
Some of Icahn's position is based on underlying call options.
Icahn has been aggressively accumulating the stock since April. He is also now a Form 4 filer.
No one was immediately available a the company to comment on Icahn's new stake.
Shares of Hain Celestial are up 6.2 percent today to $22.50.
Market Moving News and Intelligence- Free Trial
http://www.streetinsider.com/premium_content.php
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