Matt Levine, Columnist

Everybody Wins When Icahn Gives Up on Apple

I might tell the story as, Apple was doing a big share buyback, and so Icahn came in and said "hey you should do a big share buyback!," and Apple kept doing what it was doing and ignoring Icahn but he got to claim victory anyway.

February 11, 2014 at 10:27 PM UTC

By Matt Levine

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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I guess the story of Carl Icahn and Apple is that Icahn is withdrawing his proposal to make Apple buy back more stock because he's gotten most of what he wants, but I don't get it? I might tell the story as, Apple was doing a big share buyback, and so Icahn came in and said "hey you should do a big share buyback!," and Apple kept doing what it was doing and ignoring Icahn but he got to claim victory anyway. I'm going to start agitating for Apple to sell phones, I will look like a genius.

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