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Icahn says wrote to Apple CEO, will reveal contents on new website
October 23, 2013 / 7:58 PM / 4 years ago

Icahn says wrote to Apple CEO, will reveal contents on new website

SAN FRANCISCO, Oct 23 (Reuters) - Billionaire activist investor Carl Icahn, who is urging Apple Inc to expand its share buyback plan, said on Wednesday he has written a letter to Apple Chief Executive Tim Cook and will reveal the contents on a website to be launched on Thursday.

“Just sent a letter to Tim Cook. Full letter will be disclosed on my website, the Shareholders’ Square Table, which will be launched tomorrow,” he said on Twitter.

Apple could not be immediately reached for comment.

Icahn, who has said his stake in Apple is worth around $2 billion, had dinner last month with Cook and Apple Chief Financial Officer Peter Oppenheimer and described the meeting as “cordial.”

In August, Icahn told Reuters that ”Apple has the ability to do a $150 billion buyback now by borrowing funds at 3 percent.

He also said at the time that “if Apple does this now and earnings increase at only 10 percent, the stock - even keeping the same multiple currently - should trade at $700 a share.”

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