Icahn Pads Apple Stake, Urges Immediate $150B Buyback Plan

Law360, New York (October 24, 2013, 11:26 AM EDT) -- Carl Icahn on Thursday revealed a larger stake in Apple Inc. and made public a letter he sent to the tech giant's top executive again urging the company to immediately take on a mammoth buyback program worth $150 billion.

The billionaire activist, who said in August that he had taken a "large position" in the California company, said that he has since increased the size of his stake by 22 percent, giving him 4.73 million shares, worth more than $2.5 billion at current rates.

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