Williams Cos., the U.S. pipeline operator that underperformed its peers last year, will give board seats to Carl Icahn protege Keith Meister and another activist shareholder to avoid a potential proxy battle.
Carl Icahn, the shareholder activist who waged two proxy fights for board seats at Forest Laboratories Inc., stands to earn almost $1.7 billion in gross profits on his 11 percent stake in the drug company.
Carl Icahn, who pocketed an $800 million profit after selling more than half of his stake in Netflix Inc., is losing a three-month-old wager with his son Brett over the stock, which soared to a record yesterday.
Corporate directors, who for years often dismissed activist investors as quick-profit seeking gadflys, are starting to listen when opinionated shareholders like Carl Icahn, Nelson Peltz and Mason Morfit come calling.
Even as bondholders of Carl Icahn’s investing company enjoy market-beating gains, they’re demanding extra yield on new notes to compensate for risk in the maverick investing style of the world’s 35th-richest person.
Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.