28.12.2013 17:20 Uhr, Quelle: Macworld UK

Apple to shareholders: Vote Icahn off Buyback Island

Apple urged shareholders to vote against a proposal by investment agitator Carl Icahn, who wants Apple to buy back an additional $50 billion in stock over the next nine months to boost the share price, according to a Friday filing with U.S. regulators.Icahn, the 77-year-old billionaire notorious for playing the thorn to corporate boards' sides, has been pushing Apple for a big buyback since August, when he revealed that he had a "large position" in the company. Subsequently, he said he had several conversations with Apple CEO Tim Cook, including one over dinner, where he had pressed the chief executive to borrow money to fund a $150 billion buyback brainstorm.Earlier this month, Icahn scaled back his demands to a $50 billion share repurchase, which he said was justified by Apple's huge cash reserves -- $147 billion as of the end of the third quarter -- and the ups

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