Daniel Payne
Moderator
Back in 2010 activist investor Carl Icahn bought 16 million shares of MENT stock at $8-$10 per share in an attempt to take control of Mentor Graphics.
Today we learned that Mentor Graphics is buying 8 million of those shares from Icahn, so at $18.12 per share I calculate that Icahn just earned some $64M in profit. Nice deal of Icahn, and he still owns another 8 million shares of MENT stock. Had Icahn been able to time this better he could've sold at $28 per share when Mentor stock peaked, but then again maybe Mentor didn't want to buy back those expensive shares.
We've blogged about Icahn on SemiWiki:
Today we learned that Mentor Graphics is buying 8 million of those shares from Icahn, so at $18.12 per share I calculate that Icahn just earned some $64M in profit. Nice deal of Icahn, and he still owns another 8 million shares of MENT stock. Had Icahn been able to time this better he could've sold at $28 per share when Mentor stock peaked, but then again maybe Mentor didn't want to buy back those expensive shares.
We've blogged about Icahn on SemiWiki:
- Personal Message to Carl Icahn RE: MENT. June 16, 2010
- Mentor Graphics Should be Acquired or Sold: Carl Icahn. Feb 12, 2011
- Mentor Graphics should be acquired or sold: Carl Icahn Counterpoint. Feb 20, 2011
- Mentor Graphics: 1: Carl Icahn 0!. Mar 4, 2011
- Mentor 2: Carl Icahn 0. May 1, 2011
- Shakeup at Mentor Graphics. May 12, 2011
- Bye, Bye Carl Icahn. Feb 26, 2015
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