Carl Icahn
Carl Icahn is a billionaire financier, ranking #18 on the 2007 Forbes 400 list with an estimated net worth of $14.5 billion.
Icahn built a name for himself in the 1980s as a corporate raider. After keeping quite for years, Icahn made a major comeback as a 'activist investor'. An activist investor agitates companies for changes, including buyouts, share buybacks, and dividend increases.
Icahn has successfully pushed for changes at Time Warner (NYSE: TWX) and Temple-Inland (NYSE: TIN), among others. Icahn won board seats at Motorola (NYSE: MOT) after first failing.
In 2007, Icahn's activism successfully pushed biotech company MedImmune into a sales agreement with AstraZeneca (NYSE: AZN). Icahn is also involved with biotech company Imclone Systems (Nasdaq: IMCL), where he is Chairman of the Board.
In early, 2008 Icahn activist target BEA Systems (Nasdaq: BEAS) was sold to Oracle (Nasdaq: ORCL). Icahn held a 13% stake in BEA.
Icahn is also involved with developments at Biogen Idec (Nasdaq: BIIB) and WCI Communities (NYSE: WCI), which both unsuccessfully explored sales. WCI rejected a $22 per share takeover offer from Icahn in early 2007, only to see its stock plummet on the housing slowdown.
In 2008, Icahn targeted Yahoo! (Nasdaq: YHOO) after the Internet company failed to work out an acceptable merger agreement with Microsoft (Nasdaq: MSFT) Microsoft walked away from its bid for Yahoo! after months of bickering.
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Navistar (NAV) Reaches Agreement with Carl Icahn; Icahn Not to Seek Board Appointment
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Navistar (NAV) announces agreement with Carl Icahn, will not seek Board representation
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Navistar Announces Agreement with Investor Carl Icahn
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Carl Icahn Files Q3 13F
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Oshkosh (OSK) Could Be Worth $36 In a Deal, But Navistar (NAV) May Not Be Able to Pull It Off
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Morning Movers 10/14: (SHZ) (LOCM) (NAV) (AVL) Higher; (DEPO) (NCMI) (AVII) (INSM) Lower
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Pre-Open Movers 10/14: (WLT) (GOOG) (NAV) Higher; (DEPO) (NCMI) (INSM) Lower (more...)
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Jefferies Maintains a 'Buy' on Navistar (NAV); Icahn Buys 10%
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After-Hours Movers 10/13: (GOOG) (NAV) Higher; (DEPO) (NCMI) (UBS) Lower
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Navistar International (NAV) Ramps After Carl Icahn Takes Nearly 10% Stake
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Icahn Shows 9.8% Stake in Navistar (NAV), Looking to Add Members to Board
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Icahn's Icahn Capital Shows New Stake in Amgen (AMGN), Clorox (CLX) and Southern Union (NYSE: SUG); Raises Dynegy (DYN), Lowers Chesapeake (CHK)
