Icahn, With 6 % Of Newell Manufacturers Shares, Hasn't Determined Which Facet He's On

Billionaire Carl Icahn reported a higher than 6 % stake in Rubbermaid guardian Newell Manufacturers, calling them undervalued, in response to a regulatory submitting on Friday.

The activist investor stated in a submitting with the Securities and Change Fee that he intends to speak with Newell administration about methods to “improve shareholder worth.” The submitting additionally says Icahn expects to have extra talks with different fund supervisor, Starboard Worth, about its proxy contest towards Newell.

Earlier this month, Icahn instructed CNBC he had taken the big stake with out saying precisely how a lot he had acquired.

Activists Starboard Worth and Martin Franklin have teamed as much as oust Newell’s complete board. Icahn’s submitting on Friday stated he hasn’t determined whether or not he was going to assist administration or Starboard. “Though there may be clearly no straightforward short-term repair for the Issuer, we consider there is a vital function for our model of activism,” it stated.

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