Icahn's Threats Aren't Empty, But They Don't Always Work

Law360, New York (March 11, 2013, 8:20 PM EDT) -- Carl Icahn, who has promised a proxy contest and “years of litigation” in his opposition of Dell Inc.'s $24.4 billion buyout, doesn't have a history of empty threats.

The 80-year-old Icahn is one of the country's busiest activist investors, those sharp-elbowed shareholders who use toehold stakes to lobby for management changes or sales. He is currently waging at least three fights, targeting Dell, offshore oil rig operator Transocean Ltd. and freight car manufacturer Greenbrier Cos. Inc.

But the corporate raider has been far from perfect in...
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