Wall Street Journal reports that Carl Icahn has softened his stance on Apple’s cash
The activist billionaire had originally urged the technology company to repurchase $150 billion of its stock immediately. He called a previously announced buyback by Apple, which the company said was the biggest buyback authorization in history, too small and too slow.
Now, he is asking for $50 billion in buybacks on top of Apple’s previous program, according to people familiar with his latest overture to Apple. The proposal would call for the buybacks to be done by the end of September, these people said.
That is a big reduction in the amount he is asking for. But the new figure is probably something that Apple would be more likely to consider.