Carl Icahn Makes Precatory Proposal To Apple For Vote On Larger Buyback But Not At 150B
[tweet https://twitter.com/Carl_C_Icahn/status/408324753665966080] After sending a letter to Tim Cook in October urging him to increase Apple’s buyback plan to $150 billion, billionaire investor Carl Icahn today announced he will soon issue a precatory proposal to call for a shareholder vote on an larger buyback. He won’t, however, be pushing for the $150 billion buyback he originally proposed: A precatory proposal is essentially a formal request asking Apple to hold the vote, but it means Apple executives wouldn’t actually have to implement the buyback even if the majority of shareholders approved it....