Friday, November 9, 2012

Carl Icahn considered hostile takeover for control of Netflix


Carl Icahn


Activist investor Carl Icahn said Thursday he has considered launching a hostile takeover bid for Netflix, in which he recently acquired a 10 percent stake.


When queried on the approach to gain control of the Internet streaming and DVD rental service, Icahn told CNBC: "The thought had certainly entered my mind. I have to admit I think about it, but we haven't made that decision."


While saying a hostile takeover was "certainly an alternative," the billionaire and former corporate raider called Netflix's recent adoption of a "poison pill" plan to defend against just such a situation "really reprehensible." Netflix board of directors approved the plan on November 2, a few days after Icahn revealed in a Securities and Exchange Commission filing that acquired a nearly 10 percent stake in the company.


Calling Netflix "a great platform," Icahn said he couldn't understand why the company hadn't been snapped up already, noting obstacles for potential competitors.


"To begin with, I'm not sure... [Read more]


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