A Beaver Dam Made of Call Options: Icahn Takes Major Stake in Netflix.


Activist Investor Icahn Buys Shares of Netflix, Calls It “Undervalued”

It is always a good day at the Underdisclosed.com offices when Carl Icahn makes a new Schedule 13D filing.  Today, the hamsters are talking about Netflix.

Activist investor, mogul and all around cool guy Icahn announced his block of about 5.5 million shares, or just under 10%, of Netflix’s shares.  Another twist, they are mostly options to purchase  shares.

Icahn may have plans for Netflix, although he is keeping is cards hidden for now.  All we know is that he thinks it is undervalued.  In his own words:

The Reporting Persons acquired the Shares with the belief that the Shares were undervalued due to the Issuer’s dominant market position and international growth prospects.  The Reporting Persons believe Netflix may hold significant strategic value for a variety of significantly larger companies that are engaging in more direct competition with one another due to the evolution of the internet, mobile, and traditional industry.  The Reporting Persons are considering ways for the Issuer to maximize shareholder value but have reached no conclusion. The Reporting Persons may in the future seek to have discussions with the Issuer.

We’ll be keeping an eye on this one.  In preparing this post, I spent a lot of time finding just the right commercial.  I went with the Netflix beaver.

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