Carl Icahn folds on Apple buyback proxy fightHe writes in an open letter to Apple shareholders that he sees "no reason to persist."
<p>FORTUNE -- On Monday, four and a half months after Carl Icahn tweeted that he had "pushed hard" for Apple (AAPL) CEO Tim Cook to use his company's entire cash holdings to buy its own "extremely underpriced" shares, Wall Street's most feared and admired corporate-raider-turned-activist-investor backed down.</p>
<p>Icahn's announcement, made in an open letter to Apple
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Carl Icahn folds on Apple buyback proxy fight