Icahn May Abandon Plan To Control Time Warner; Settlement Near

Carl Icahn has given up plans to take control of Time Warner, amid signs that there could be a settlement with the company, WSJ reports.

The settlement could include five Icahn-approved board members, including Alan Weber, former chairman of U.S. Trust; Doug Bergeron, an executive with VeriFone; Peter Clapman, an executive with TIAA-CREFF; Dale Hanson, an executive with the giant pension fund Calpers and Frank Biondi, a veteran entertainment executive. Icahn will nominate Biondi to be chairman of Time Warner.

Update:NYT, which just Wednesday was writing about Icahn stepping up his campaign, has a follow on the WSJ report: “People close to Mr. Icahn and Mr. Parsons said the two men were speaking yesterday, and that Mr. Icahn had presented Mr. Parsons with a list of proposals throughout the week. Assuming Mr. Icahn and Mr. Parsons are able to come to terms, the many properties of Time Warner รข

Comments have been disabled for this post