Thursday, October 9, 2014

Open letter from Icahn to Cook asks Apple to tender for $50 billion of its own shares

An open letter sent yesterday by investor Carl Icahn to Apple CEO Tim Cook, was made public today. The missive first praised the executive by calling him the ideal CEO for Apple. Icahn then explains why Apple is considered undervalued in his eyes. Because the investor doesn't expect this undervaluation of Apple to last long, he says that there is a limited window of opportunity that has presented itself, for Apple to tender for a large number of its own shares.



Icahn, who says in his letter that he owns 53 million shares of Apple, believes that the company is worth more than twice what it ...



from PhoneArena - News http://ift.tt/1sgbw9E

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