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Is Carl Icahn Building A Position In Time Warner?

Is Carl Icahn Building A Position In Time Warner?

Shares of Time Warner Inc (NYSE: TWX) were trading higher by 1 percent on Monday after the New York Post reported that Carl Icahn is preparing to mount an activist battle against the company.

The New York Post noted that "one well-known activist" has been buying shares of Time Warner. The publication added that "several sources" revealed that the activist investor is Carl Icahn and he is preparing to wage a battle to break up Time Warner.

Icahn previously waged a battle against Time Warner in 2006 to breakup the company.

Meanwhile, Icahn's protege, Keith Meister, is building an activist position in Time Warner through his Corvex Capital Management fund.

The New York Post added that in addition to activist shareholders, two of Time Warner's largest long-term investors are "running out patience" and would support a sale of all or parts of the company.

"These guys want to see change," referring to a sale, said one source with direct knowledge of the situation. "Everyone wants a change there."


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Posted-In: Carl Icahn Corvex Capital Management Keith Meister New York PostNews Rumors Hedge Funds General Best of Benzinga

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