Carl Icahn has a lot of money and an axe to grind with it when it comes to Apple. He has been trying to compel buyback action from the company for some time now and doesn’t appear to be slowing down any time soon.
Did Carl C. Icahn just change the rules of the activist game?
On Thursday, the septuagenarian activist investor, who has been stirring things up at Apple, ratcheted up the pressure by posting a letter to Timothy D. Cook, Apple’s chief executive, on his new Web site. The letter, which Mr. Cook received on Wednesday, urged Apple to immediately begin an offer to buy back $150 billion in Apple shares at the current share price of $525 a share, “financed with debt or a mix of debt and cash on the balance sheet.”
