Activist investor Carl Icahn has spoken with Apple Inc. Chief Executive Tim Cook again to discuss a potential stock buyback, cable television network CNBC reported on Monday.<\/p>\n
Icahn, who has demanded a $150 billion buyback publicly and privately to Apple’s Cook since August, had a good conversation with Cook and they both continue to believe the company is undervalued, CNBC reported.<\/p>\n
Icahn owns roughly 4.7 million shares in the technology giant; he revealed on August 13 that his investment firm had a “large position” in Apple. He has said that Apple shares could trade at $700 with a larger stock buyback.<\/p>\n
Apple shares were down 0.36 percent at $518.70 in afternoon trading on Monday.<\/p>\n
Icahn and Apple were not immediately available for comment.<\/p>\n
Icahn also said that he hoped offshore driller Transocean would raise its stock dividend further in the future, CNBC reported.<\/p>\n
Switzerland-based Transocean said Monday that it had reached an agreement with Icahn to pay out a $3 dividend and reduce its maximum number of board seats to 11 from 14.<\/p>\n
Icahn, who disclosed a 5.6 percent stake in the company in January, had previously pressed for a $4 per share dividend. Transocean shares were up 3.8 percent at $55.5 in afternoon trading.<\/p>\n
Out with Apple, in with Tesla<\/a><\/strong><\/p>\n Apple sells more iPhones than expected<\/a><\/strong><\/p>\n