Apple's Cook, Icahn slated for Monday meetup, another report claims - CNET

Apple CEO Tim Cook and activist investor Carl Icahn are just days away from their big meetup.

Cook and Icahn will meet on Monday to discuss a share buyback program Apple has instituted, All Things Digital reported on Friday, citing people familiar with their plans. The report comes just a day after David Faber of CNBC said that the two men would be meeting on Monday.

Last month, Carl Icahn tweeted that he would be meeting with Cook in September, but didn't specify a date. In that tweet, he mentioned plans to discuss the "magnitude" of Apple's buyback program.

Icahn is a large individual investor in Apple with reports of his stake ranging between $1.5 billion and more than $2 billion. Earlier this year, Apple announced that it would return $100 billion of its cash to shareholders through dividends and a $60 billion share buyback. Apple started buying back some shares last year. Icahn would like to see Apple increase its buyback program to reduce the number of available shares and cause its stock price to rise.

For its part, Apple has said that its buyback level is appropriate and has no plans to increase its investment in shares. It's possible Cook might make that point at his tete-a-tete with Icahn on Monday.

via apple - Google News


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