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I assume he doesnt have power until he has a seat at the table, which I think must be voted on?
With a 10% stake I am willing to bet he gets a BOD seat. 10% doesnt sound like a lot, but it is considering he is a single entity behind those shares. Blackrock and Vanguagrd are large shareholders but they are passive and do not get involved with board room issues.Originally Posted by ARL120384
Forgive my ignorance, but is he only a threat if he gets offered a board seat? I don't know much about large stake investing, but what power does he have as a sole shareholder? Is this something you can do on your own or do you need help from the ELT?I assume he doesnt have power until he has a seat at the table, which I think must be voted on?
If the board resists giving him a seat then he could put forth a shareholder proposal at the next annual meeting (usually in April/May I believe?) with a proposal to add Icahn as a board member. With 34m shares under his control it would likely pass.
https://www.sec.gov/ixviewer/ix.html...023_def14a.htm