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
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