: Time Warner was ready for this particular rock to drop, quickly issuing a statement and a letter to shareholders that can be read here. TW also has started a “Building Value” microsite, which is still pretty bare for now.
The statement: “Our board and management regularly review all of the strategic options for managing this company to create the greatest value for our shareholders. We are on the right path. The company is delivering. Nevertheless, we will study the Icahn/Lazard proposal carefully and thoroughly, as is consistent with our existing practice and with our fiduciary duty to shareholders. We will have more to say on the specifics of the proposal in due course.รข
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