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Carl Icahn Takes a Bath On Allergan and Federal-Mogul

Carl Icahn is also one of the few Jewish businessmen to support Donald Trump’s Presidency.

Carl ICAHN

 

Carl Icahn, one of the world’s biggest activist investors, is having trouble with two of his recent positions. The first is in Allergan and the second is in auto parts maker Federal-Mogul.

According to a report in The Wall Street Journal, Carl Icahn held just $98 million in Allergan shares as of September 30. The investor had greatly reduced his position in the company over the summer, dumping $700 million worth of shares in the company.

While it reported that Icahn has moved the funds into increasing his stakes in Hertz Global Holdings and Herbalife, The Journal did not give a reason as to why he is pulling out of Allergan.

Meanwhile, The New York Post is reporting that Carl Icahn has failed in his attempt to acquire the auto parts maker Federal-Mogul. The investor was unable to get the company’s stockholders to agree to a $9.25-a-share buy out offer by the 4 p.m. Monday deadline. And so Icahn failed to get control of the more than 50% stock in Federal-Mogul required to take the company private.

He has, however, extended his deadline for the acquisition of the needed shares until midnight on December 15.

Carl Icahn has also been a vocal supporter of Donald Trump and is praising the President elect’s possible cabinet picks. This is in contrast to Jewish businessmen like Sheldon Adelson who seemed to only begrudgingly endorse Trump at the last minute.

He specifically endorsed Steve Mnuchin and Wilbur Ross who are are being considered for the Treasury and Commerce Departments respectively. Carl Icahn is boasting about being in direct contact with Donald Trump on these matters.

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