Editor’s Note: Dell Inc. (NASDAQ:DELL), Herbalife Ltd. (NYSE:HLF), Nuance Communications Inc. (NASDAQ:NUAN), Chesapeake Energy Corporation (NYSE:CHK), Pinnacle Entertainment, Inc (NYSE:PNK)
Icahn’s Bid To Fast-Track Dell Lawsuit Fizzles Out (CIO Today)
A state judge on Friday dealt a blow to activist investor Carl Icahn‘s effort to stop CEO and founder Michael Dell’s $24.8 billion buyout offer for the struggling computer Relevant Products/Services maker. He refused to fast-track proceedings on Icahn’s claims that Dell Inc. (NASDAQ:DELL) directors have betrayed their duties to shareholders in trying to win support for Michael Dell’s bid. After three delays, Dell’s board has scheduled a special shareholder vote on Michael Dell’s offer for Sept. 12, followed by an overdue annual meeting on Oct. 17.
Nuance Adopts ‘Poison Pill’ Measure After Carl Icahn’s Apple Investment (Mac Rumors)
Nuance Communications Inc. (NASDAQ:NUAN), the company that makes some of the voice recognition technology behind Apple’s Siri, has adopted a ‘poison pill’ measure to deter any possible takeover attempts. Activist investor Carl Icahn, who recently bought more than $1 billion worth of Apple stock, also owns 16% of Nuance. Icahn is famous for putting pressure on companies that he invests in, and some believe he could press Apple to purchase Nuance Communications Inc. (NASDAQ:NUAN). He has been publicly calling for Apple to dramatically increase its share repurchase program since he invested in the company.
Icahn Rips Investor’s Bid To Bar Potential Herbalife Deal (Law360)
A lawsuit seeking to stop Carl Icahn from taking Herbalife Ltd. (NYSE:HLF) private is based on an incorrect claim that he admitted the vitamin distributer is a pyramid scheme, the billionaire told a New York federal court on Monday. Icahn asked the judge to dismiss a lawsuit brought in March by public-interest lawyer Daniel Ravicher, who owns a significant short position in the company.
Icahn boosts Chesapeake stake (CNBC)
TROPICANA ENTERTAINMENT ENTERS AGREEMENT TO ACQUIRE THE LUMIERE PLACE CASINO AND HOTELS IN ST. LOUIS (PR-BG.com)
Tropicana Entertainment, Inc. (“Tropicana”) announced that it has entered into an agreement with Pinnacle Entertainment, Inc (NYSE:PNK) to acquire Lumiere Place Casino, HoteLumiere, and the Four Seasons Hotel St. Louis (collectively, “Lumiere”). Carl C. Icahn, Chairman of Tropicana Entertainment, stated: “We are happy that Tropicana, which Icahn Enterprises purchased out of bankruptcy only three years ago, is now profitable and will have expanded to nine casino properties. We hope to continue to make judicious acquisitions in the future.”
