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Carl Icahn Says He’s Going to Give ‘Seed Money’ to New Activists

April 22 (Bloomberg) -- Billionaire investor Carl Icahn said he plans to provide “seed money” to new activist funds as he backs other vocal investors.

Activism has proven to be rewarding for longer-term investors, Icahn said today at the Active-Passive Investor Summit in New York, dismissing most criticism that the technique is only focused on short-term gains.

Activist investors tend to buy at least 5 percent of a company’s stock and flag their intention to actively engage corporate executives and directors by disclosing their holding in a 13D filing with the U.S. Securities and Exchange Commission.

To contact the reporter on this story: Beth Jinks in New York at bjinks1@bloomberg.net

To contact the editors responsible for this story: Mohammed Hadi at mhadi1@bloomberg.net Elizabeth Wollman

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