Printed from http://www.electronista.com

SEC: corporate raider Carl Icahn owns 10 percent of Netflix

updated 05:33 pm EDT, Wed October 31, 2012

Report fuels Netflix takeover speculation by Microsoft, others

Financier and corporate raider Carl Icahn has reported to the Securities and Exchange Commission (SEC) that he owns approximately 10 percent of Netflix stock. The filing declares that Icahn Capital LP and associates purchased 5.54 million shares of stock in the company for $168.9 million dollars. In remarks associated with the announcement, the investment group believes that Netflix is undervalued.

According to the SEC filing, "the Reporting Persons acquired the Shares with the belief that the Shares were undervalued due to the Issuer's dominant market position and international growth prospects. The Reporting Persons believe Netflix may hold significant strategic value for a variety of significantly larger companies that are engaging in more direct competition with one another due to the evolution of the internet, mobile, and traditional industry. The Reporting Persons are considering ways for the Issuer to maximize shareholder value but have reached no conclusion. The Reporting Persons may in the future seek to have discussions with the Issuer."

As a result of the SEC filing made public, Netflix shares jumped $10 on the news, making it the second day in less than a week that the stock has risen more than 10 percent. The first climb was attributed to rumors that Microsoft had offered $90 per share in an acquisition bid for the video streaming company.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Dell AD211 Bluetooth speaker

For all of the high-priced, over-engineered Bluetooth speakers in the electronics market, there is still room for mass-market solution ...

VisionTek 128GB USB Pocket SSD

USB flash drives dealt the death blow to both the floppy and Zip drives. While still faster than either of the old removable media, sp ...

Kodak PixPro SL10 Smart Lens Camera

Smartphone imagery still widely varies. Large Megapixel counts don't make for a good image, and the optics in some devices are lacking ...

Sponsor

toggle

Most Commented

 
toggle

Popular News