Ignore Chatter, Carl Icahn Has No Interest in RIM
Ignore the chatter, Carl Icahn has no interest in RIM. That’s just one of several headlines made during our exclusive interview with the billionaire investor.
The others are: Amylin is worth more than $22/share and CVR is acting despicably.
Here’s a synopsis of what he told us, exclusively.
Research In Motion
Carl Icahn has been linked to Research In Motion for many, many months with chatter suggesting that the stock had fallen so badly, that as an activist investor, he couldn’t resist stepping in. After all Carl Icahn is known for his ability to agitate for change and unlock shareholder value.
However, Icahn tells us, “I’ll give you a freebie. I can barely spell it – I’m wasn't involved with Research in Motion then (when the rumors first started circulating earlier in the year) and I’m not involved now.”
“If ever a company should be sold it’s this company,” says Carl Icahn who owns 10% of drug maker Amylin. “But I think it could be sold for more than $22.”
That was what Ichan told us after we asked him if published reports were true - published reports that said Amylin had rejected an unsolicited takeover offer from Bristol Myers valued at $3.5 billion or $22 share.
Amylin makes the diabetes drugs Byetta and Bydureon.
“It has a great drug but it just doesn’t have the financial strength,” says Icahn.
It’s worth noting that Tim Anderson an analyst at Sanford Bernstein said recently he believed an Amylin acquisition would fit well and work financially with AstraZeneca, assuming AstraZeneca paid a 30 percent premium to the stock price plus $1.5 billion for an outstanding promissory note and convertible debt, which would have valued Amylin at $4.5 billion.
“I think they’re acting despicably,” says Icahn of CVR Energy. He’s referring to the company’s decision not to move up a board meeting, after Icahn announced publicly that a majority of CVR Energy shares had been tendered in support of his hostile takeover bid.
Icahn cannot actually buy those shares until CVR's board removes a "poison pill" rule that prevents the sale of the company. The board has refused to do that, arguing that it can deliver a greater return for shareholders.
Icahn is powerless to move until the annual meeting which now scheduled for mid-May, at which time he can nominate new board members.
“I’ve lost many fights,” he insists, meaning he knew when to throw in the towel. The current board needs to walk away, now. “The shareholders have spoken.”
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Trader disclosure: On April 3, 2012 , the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Keith McCullough is long GLD; Keith McCullough is long XLU; Tim Seymour is long INTC; Tim Seymour is long BAC; Tim Seymour is long CSCO; Tim Seymour is long FCX; Joe Terranova is long VRTS; Joe Terranova is long NXPI; Joe Terranova is long IBM; Joe Terranova is long MCD; Joe Terranova is long EMC; Joe Terranova is long MSFT; Joe Terranova is long JOY; Joe Terranova is long OXY; Joe Terranova is long JQD; Dan Nathan is long AAPL APR 585 PUTS, LONG JAN 450 PUTS; Dan Nathan is long BAC MAY 7 PUTS; Dan Nathan is long YHOO APRIL 16/17 CALL SPREAD; Dan Nathan is long IBM APRIL 205/200 PUT SPREAD; Dan Nathan is long RIMM JAN 20/27.5 CALL SPREAD
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