Carl Icahn and banks have agreed to amend loan agreements that untie the billionaire's personal loans from the trading price of Icahn Enterprises , the Wall Street Journal reported, months after short-seller Hindenburg's criticism triggered a massive fall in the shares of his investment company.
, months after short-seller Hindenburg's criticism triggered a massive fall in the shares of his investment company.
Shares of Icahn Enterprises soared 7.5% in premarket trading on Monday. They are down about 43% since the Hindenburg report came out in May. Icahn will now provide additional collateral, which will total roughly $6 billion, including $2 billion of his own funds, and laid out a plan to repay the loans in three years, the report said on Monday , citing people familiar with the matter.Hindenburg had called Icahn's pledge of about 60% of his IEP stake as collateral for margin loans as risky, which could result in margin calls should the unit's prices decline.
The short-seller accused IEP of overvaluing its holdings and relying on a "ponzi-like economic structure" to pay dividends. It also said IEP units were inflated by more than 75%.Following the amendment, the only thing that could now trigger a margin call is movement in the net asset value of his company’s investments, which include companies and stocks, the report said.
Reporting by Gursimran Kaur and Jaiveer Shekhawat in Bengaluru; Editing by Dhanya Ann Thoppil and Pooja Desai
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
WSJ News Exclusive | Carl Icahn Gets Breathing Room From Lenders Following Short-Seller AttackThe deal unties his personal loans from the trading price of Icahn Enterprises
続きを読む »
Icahn Enterprises' stock climbs 5.7% after report of amended loan agreementIEP pops after a report that Carl Icahn and banks finalized amended loan agreements that untie his personal loans from the trading price of his company.
続きを読む »
Icahn Enterprises shares jump on report of loan agreement and other stocks on the moveIcahn Enterprises, Alibaba and Northern Trust are stocks on the move.
続きを読む »
Stocks making the biggest premarket moves: Advance Auto Parts, Icahn Enterprises, Meta, Fisker and moreThese are the stocks posting the largest moves in the premarket.
続きを読む »
Show Your Support for Evan GershkovichHead here if you would like to write a message to Evan Gershkovich and his family IStandWithEvan
続きを読む »
Schools deploy robots to surveil campus, confront intruders: WSJInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
続きを読む »