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

The essential guide to IT transformation

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. ®

Build a business case: developing custom apps

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.