Carl Icahn Pushed for $150 Billion Stock Buyback at Dinner with Apple CEO Tim CookActivist investor Carl Icahn has just issued a Tweet sharing that he had a "cordial" dinner with Apple CEO Tim Cook last night where he pushed for an increased stock buyback of $150 billion. According to Icahn, the two will revisit the subject later this month. The stock buyback portion of Apple's capital return program was originally set at $10 billion when it was announced in March 2012, but in April of this year the company announced a significant increase to $60 billion as Apple has sought to take advantage of a drop in the company's stock price to repurchase shares at relatively low prices. Icahn believes that Apple's stock remains undervalued, and thus is pushing Apple to increase the buyback even further. Icahn took a "large position" in Apple, said to be in the neighborhood of $2 billion, back in August and noted shortly after that he would be having dinner with Cook to discuss the company's buyback plans. That dinner meeting was held yesterday in New York City. Recent Mac and iOS Blog Stories • Apple TV Gains Vevo and NHL Channels in Germany • T-Mobile Grows on iPhone Sales as Apple Registers Nearly Even with Android in Japanese Market Share • Apple Hires Toronto Blue Jays Assistant General Manager for App Store Sports Section • Dropbox for Mac Updated with iPhoto Integration, Automatic Screenshot Uploads • Amazon: $15 Discount on Mac Software, Including Photoshop Elements 12 • Refurbished 128 GB iPad Models Begin Appearing in Apple Online Store • 'Yahoo! Sportacular Pro' Goes Universal with New Content, Fantasy Football Integration • Staples Now Selling iPad, iPad Mini and iPods in U.S. Online Store
http://www.macrumors.com/2013/10/01/carl-icahn-pushed-for-150-billion-stock-buyback-at-dinner-with-apple-ceo-tim-cook/
