icahn

Dell responds to Icahn's criticism of going private

A Dell committee, made up of four board members charged with deciding whether going private is the right move, has responded to Dell investor Carl Icahn, who says it isn't.

In a February 5 letter, Icahn said that he and others do not "believe that [the Going Private Transaction] is in the best interests of Dell's shareholders and substantially undervalues the company." Instead of going private, Icahn would like to see Dell issue a special dividend of $9 per share. That should result, he said, in a stock price increase to $13.81, which, added to … Read more

Carl Icahn to take up stake in Dell, says CNBC

Carl Icahn is building a 6 percent stake in Dell, as the computer maker prepares to go public, CNBC reported today.

Unnamed trading sources told CNBC that Icahn has almost 100 millions shares and is urging Dell to pursue leveraged recapitalization instead of the buyout proposed by Michael Dell and investment firm Silver Lake.

CNET has contacted Icahn's company, Icahn Enterprises, for comment. The CNBC report said Icahn "wouldn't discuss Dell or any rationale he had for the investment."

Leveraged recapitalization is one of the suggestions made by Dell's top shareholders last month, shortly after … Read more

Carl Icahn considered hostile takeover for control of Netflix

Activist investor Carl Icahn said today he has considered launching a hostile takeover bid for Netflix, in which he recently acquired a 10 percent stake.

When queried on the approach to gain control of the Internet streaming and DVD rental service, Icahn told CNBC: "The thought had certainly entered my mind. I have to admit I think about it, but we haven't made that decision."

While saying a hostile takeover was "certainly an alternative," the billionaire and former corporate raider called Netflix's recent adoption of a "poison pill" plan to defend against … Read more

Former rival's advice to Netflix: 'Don't let Icahn get to you'

What should CEO Reed Hastings do if billionaire investor Carl Icahn wins some control of Netflix? Stay cool and don't sweat it, says one of Hastings' former rivals -- John Antioco, former CEO of the former Blockbuster.

Icahn acquired nearly 10 percent of Netflix's shares last week. His entry into any company typically means headaches for managers and directors. Antioco knows a thing or two about dealing with Icahn.

Antioco led turnarounds at Circle K convenience stores and Taco Bell, and was on his way to building Blockbuster's digital unit into a significant Netflix competitor when Icahn'… Read more

Carl Icahn ups stake in Take-Two, now owns nearly 10 percent

Carl Icahn's interest in Netflix hasn't stopped him from making strategic investments elsewhere.

Just yesterday, a host of Icahn organizations, including Icahn Partners and Icahn Master, bought up about 500,000 shares in Take-Two Interactive to increase his ownership to 9.57 percent. Icahn, who previously owned about 8.7 percent of Take-Two, has invested an aggregate total of $79.9 million in the company.

Icahn has been, at times, a thorn in Take-Two's side. In 2010, he had a spat with Take-Two's board of directors and eventually had three members ousted. In their place, Icahn … Read more

With Icahn, Netflix management is in fight for existence

Netflix management faces perhaps the biggest threat to its existence in the form of Carl Icahn, the famed corporate raider.

Icahn acquired a little under 10 percent of Netflix's shares last week and made noise about how sees a way to profit from the potential sale of the Web's top video rental service -- a company that has struggled mightily in the past 15 months with a customer-alienating price increase and missed projections.

In a financial career that has spanned more than 30 years, Icahn has developed a reputation for being someone who can unlock value at troubled … Read more

Netflix preps poison pill to fend off Icahn

Netflix said last week it could work with Carl Icahn, but now its managers are girding for battle.

The Web video-rental service said today that it is preparing what is commonly referred to as a poison pill, in an effort to fend off attempts from outside companies from making a hostile bid to takeover Netflix. The statement below does not name investor Carl Icahn, but after the billionaire and former corporate raider acquired just under 10 percent of Netflix's shares last week, it's obvious he is the motivation for this action.

The Netflix board of directors approved the … Read more

Netflix readily accepts Icahn's business advice

After Carl Icahn snapped up a 10 percent stake in Netflix, which caused a 15 percent jump in the company's stock shares yesterday, the streaming-video company announced that it's ready to listen to Icahn's business advice.

"We have many shareholders, now including Mr. Icahn, and we're always open to their perspective on how to build on our success," a Netflix representative told CNET in an e-mailed statement.

Icahn's history as an investor is full of high-profile proxy fights and tussles with management. In recent years, he has fashioned himself as an investor activist. … Read more

With Icahn move, Netflix is now officially in play

Shares of Netflix jumped sharply after an SEC filing disclosed that financier and former corporate raider Carl Icahn has taken a nearly ten percent stake in the streaming-video and DVD rental company.

The filing notes that Icahn Capital LP, an investment firm controlled by Icahn, and associated entities bought 5.54 million shares of stock in the company, plus call options, for $168.9 million. In remarks filed with the announcement, the group suggests Netflix is undervalued.

The disclosure of Icahn's investment comes just days after rumors that Microsoft might also be sniffing around Netflix. Unconfirmed rumors on Friday … Read more

'Netflixed' author talks Hastings' glory, hubris, white lies (Q&A)

By now, most techies know the celebrated story of how Netflix vanquished Blockbuster to kill off the late fee, usher in streaming distribution, and lay waste to traditional video rentals.

But "Netflixed," a book coming out next week, aims to set the record straight about how the company seized supreme power in online video rentals and who was responsible for that success, as well as offer clues to where the company may be headed.

Gina Keating, the book's author and a former reporter for Reuters, spent two years researching the project, which offers an insider's view … Read more