The Mischievous Manoeuvrings Of Carl Icahn
If you want to cause trouble in the Old Folks Home you drop your dinner on the floor or switch the communal TV to Red Hot Dutch.
But not if you’re a 76 year-old New Yorker with $11 billion.
Then you trouble-make in the corporate world. You buy a stake in a company and give the management hell.
Carl Icahn bought a share in Yahoo and threatened to sack the board.
He bought a share in Motorola and forced them to sell the mobile phone division.
Yesterday, with his 15% stake in Mentor, Icahn’s made a bid for the company – not because he wants to own it – but because he wants someone else to buy it and jack up the value of his shares.
“We believe that there are potential strategic bidders for Mentor Graphics whose bid will reflect inherent synergies and should be superior to our $17 offer,” Icahn told Mentor.
This is more fun than chucking your dinner on the floor.
But just as mischievous.Tags: mentor graphics, motorola, stake