Icahn’s Funds Report Stakes in 12 Companies
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Financier Carl Icahn disclosed that his hedge funds bought stock in 12 companies, including more than 5 million shares of Time Warner Inc. and 10 million shares of Rite Aid Corp.
Icahn Management, the partnership that runs the hedge funds, also reported ownership of 4.5 million shares in Siebel Systems Inc. and 1.9 million shares in UnumProvident Corp. as of March 31. The holdings were listed in a Securities and Exchange Commission filing.
The hedge funds, Icahn Partners and Icahn Fund Ltd., began raising money last July to bolster Icahn’s ability to push for change at companies he deems to be under-performing.
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