Editor's Note: This content was originally published on Benzinga.com by Tim Parker.
Monday, billionaire activist investor Carl Icahn wrote an open letter to Dell
(NASDAQ:DELL) shareholders saying that he was ending his battle with the Dell board.
The always kind, humble, and gracious-in-defeat teddy bear of a man said in the letter
, “We therefore congratulate Michael Dell and I intend to call him to wish him good luck (he may need it).”
The little parting jab at the end notwithstanding, this doesn’t sound like the tone of the normally ferocious Icahn who is one of the most feared men on Wall Street. The guy who has done a pretty good job of sending fellow activist Bill Ackman to the Wall Street cheap seats as Icahn and other giants continue to push Herbalife
The reason for such a conciliatory tone might be because Icahn didn’t lose at all. In fact, he came out of this looking pretty good.
First, Icahn stands to make more than $11 million, according to CNBC
. Throughout the fight, insiders speculated that Icahn never wanted control of the company anyway. He maintained that he had a big-name CEO ready to take the reins and would stage an epic turnaround despite a slumping PC market but it was hard to believe that he really wanted to get into the PC business.
Instead, he walks away with about $11 million and moves on to his next target—a small little computer company called Apple
Next, although he loves to accuse people like Bill Ackman of grandstanding, Icahn has become quite the media personality himself. He’s a frequent guest on CNBC including an appearance at the network’s Delivering Alpha conference. Icahn has been around for years but with his grumpy-old-man, no filter, personality, he has become a financial media mainstay of late. (To be fair, so has Warren Buffett.)
No doubt that he’s now in a position to make a lot of money simply by advertising his activity. Look at Apple’s stock price the day he tweeted about him and Tim Cook’s upcoming lunch date.
And there’s no doubt that he knows of his star power. Why else would a 77-year-old billionaire talk up his Twitter account every chance he gets?
No, Icahn didn’t lose the Dell battle. As he said in his CNBC interview Monday, he looks for investments that are no-brainers. Dell was certainly one of those.
Below, find some more great ETF and market content from Benzinga:
Hewlett-Packard Estimates Fewer Notebook Shipments uin 2014
Casino Stock Are Up Big -- Here's Why
Get Ready to Picture Instagram Monetized
Benzinga Pro covers this and all market news in real time. Get your free trial here.
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.