Activist Investor Carl Icahn pushes for Apple buyback

By FT.com

Activist investor Carl Icahn stepped up his campaign for Apple to return cash to investors, saying he had made the case to Tim Cook, the chief executive, for a $150bn buyback.

Shares in Apple rose 2.2 per cent to $487.12 on Tuesday, as Mr Icahn tweeted and appeared on cable television to press his argument.

Based on the $150bn cash balance, his proposition of borrowing against such an amount would lead to one of the largest corporate debt issuances in history. (…) “You can borrow money so cheaply today,” Mr Icahn added during his television appearance. “I’m saying, why wouldn’t you do it? It makes no sense not to.

To read more go to FT.com

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