Feeds

Dell nemesis Icahn offers Apple's Tim Cook slap-up grub in share buy bid

Billionaire hopes to wine and dine iPad chief into boosting stock buyback payday

Secure remote control for conventional and virtual desktops

Investor Carl Icahn - best known for trying to stop Mike Dell from taking Dell the company private - has applied more gentle pressure to Apple boss Tim Cook to get the chief exec to beef up the iPhone maker's share buyback.

During the Nasdaq outage, Icahn tweeted that he'd been chatting to Cook and was planning a dinner with the CEO next month to talk more about the fruity firm's buyback programme:

Icahn said a week ago that he'd had a "nice conversation" with the Apple chief about how he reckoned that the firm needed to do a larger buyback. The activist investor, along with other fruity shareholders, want a larger piece of Apple's $147bn cash mountain.

At the same time, the billionaire said he'd upped his stake in the iDevice-maker, which sources now say could be worth between $1bn and $1.5bn. The new position, along with comments that Apple's stock was undervalued, helped the firm's shares to rise five per cent on 13 August. But his talk of little chats with Cook failed to budge the stock, which only gained 0.12 per cent after trading resumed following the Nasdaq's downtime.

Back in April, Cupertino said it would return $100bn to shareholders by the end of 2015, raising its dividend by 15 per cent and boosting its share buyback scheme to $60bn, six times more than what had previously been planned.

But some investors, including Icahn, still aren't happy. He told Reuters last week that he reckoned Apple could withstand a $150bn buyback programme if it borrowed some money and doing so would help its shares to jump back to the $700 heights they reached around this time last year. ®

Website security in corporate America

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.