Icahn firm places a USD2 billion investment in Apple stock

By Rizza Sta. Ana

Oct 05, 2013 10:56 AM EDT

On television news channel CNBC Tuesday, Activist billionaire investor Carl Icahn said that his firm, Icahn Enterprises, had put in USD2 billion in investment in Apple Inc's shares. On the same day, Icahn had dinner with the technology giant's chief executive Tim Cook. He posted a tweet that led to a 2% sharp increase in Apple's share price.

Icahn's tweet read, "Had a cordial dinner with Tim last night. We pushed hard for a 150 billion buyback. We decided to continue dialogue in about three weeks." He also told CNBC that Apple's chief financial officer Peter Oppenheimer was also present at the dinner.

Carl Celian Icahn initially started his career on Wall Street as a stockbroker. He had been taking controlling positions since 1978, and currently owned shares in Dell Inc, Nuance Communications, Inc, Netflix, and The Clorox Company, among others. He is known as an aggressive corporate raider.

A corporate raider is a person who purchases major stakes in companies and uses shareholder rights to assert moves that are in direct opposition to the company management's practice and desires. 

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