Just when you thought the very public war of words between activist investor Carl Icahn and eBay Inc. (Nasdaq: EBAY) was about to go nuclear, peace broke out.
In a letter to eBay shareholders, Icahn charged eBay leadership with the most “blatant disregard” for accountability that his firm Icahn Enterprises “has ever seen.”
This doesn’t happen very often.
Carl Icahn has been foiled in one of his activist investing ploys, and by none other than Apple Inc. (Nasdaq: AAPL).
As usual, Wall Street smiled upon Icahn’s triumph; Transocean stock went up 3.59% to $55.37 yesterday.
“I believe that Transocean is now on the road to realize its great potential,” a clearly thrilled Icahn said in a statement. He also tweeted: “Grt news for Transocean and activism today.”
This year activist investors have been busier than ever, but they’re just getting started.
That’s because conditions in the market right now couldn’t be any more ideal for activist investing, and the hedge fund managers who do this sort of thing are not known for letting opportunities go to waste.