Last week, Carl Icahn attempted a hostile acquisition of the Hollywood studio Lionsgate Entertainment. According to a recent New York Times article, he has also been using his $8 billion hedge fund to engage in proxy fights aimed at getting board seats at the biotech companies Biogen Idec and Genzyme. In addition, Mr. Icahn is in conflict with Donald Trump and debt holders over ownership of Mr. Trump’s three bankrupt Atlantic City casinos. Mr. Icahn recently bought from bankruptcy Atlantic City’s Tropicana Casino and Resort and an unfinished casino in Las Vegas.
According to a letter to investors, Carl Icahn’s hedge fund that invests in a few select stocks and bonds returned 32% in 2009 after a 36% loss in 2008. Despite his activist successes, Mr. Icahn claims that he feels that his investment intentions are often wrongly misunderstood by the public. In the NYT article, Maggie Wilderotter, CEO of Frontier Communications and former Yahoo board member, says Mr. Icahn is never bothered by what others think of him and is always very candid. |
