Carl Icahn Back In Action — TWX In Play
Bloomberg reports that Carl Icahn may make
a tender offer for 10% of Time Warner
(
TWX |
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PowerRating). Icahn already has a 2.6%
stake in the company with hedge fund partners. Earlier in August, Icahn met with
TWX CEO Richard Parsons, demanding the company buy back $20 million in stock and
spin off its cable TV unit. Time Warner is the world’s largest media company.
The stock is trading up 0.46 at 17.93 on increased volume.