Reuters logo
Apple shareholders should reject Icahn's buyback proposal -proxy advisor
February 7, 2014 / 5:50 PM / in 4 years

Apple shareholders should reject Icahn's buyback proposal -proxy advisor

SAN FRANCISCO, Feb 7 (Reuters) - Proxy advisory firm Egan-Jones advised Apple Inc shareholders on Friday to reject activist investor Carl Icahn’s demand that the iPhone maker expand its stock buyback program, a proposal that will be put to a vote this month.

“The board and management team have demonstrated a strong commitment to returning capital to shareholders over the past two years,” the firm, the smallest of the three major proxy advisory outfits, said in a report obtained by Reuters on Friday.

Icahn is waging a campaign to get Apple to return more cash to shareholders and has filed a resolution proposing that it gives back $50 billion more through share buybacks. That proposal will be put to a vote at Apple’s Feb 28 shareholders’ meeting.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below