Icahn sets Dinner with Apple CEO for Buyback talk
In a recent tweet on Thursday, Billionaire Carl Icahn had mentioned that he has concluded another talk with Apple Chief Executive Officer Tim Cook to discuss the
iPhone maker's plans for a buyback over dinner.
The tweet read, "Spoke to Tim. Planning dinner in September. Tim believes in buyback and is doing one. What will be discussed is magnitude." The tweet was posted during a two-hour trading outage of Nasdaq.
Apple declined to provide a comment to Reuters about Icahn's tweet.
Industry observers noted that Icahn's aggressive participation with Apple helped the company boost its position in the market. Icahn's August 13 tweet about his share acquisition of Apple sent the company's stocks skyrocket to a 5% increase. Apple's current valuation is more than USD400 billion. Icahn's stake, as confirmed by an anomymous insider, is USD1 billion. The company announced in April that they would return USD100 billion to stakeholders in 2015 by raising 15% on dividends and
increasing a share buyback to USD60 billion.