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Icahn says he might buy more eBay shares

NEW YORK (Reuters) - Activist investor Carl Icahn said in an interview on Thursday that eBay Inc stock is undervalued and that he might buy more shares. Icahn, who controls 2.15 percent of eBay shares, said he does not expect another proxy fight with eBay once his confidentiality agreement with the e-commerce company ends next year. Icahn on Thursday withdrew his nominees for the board, as well as his proposal that eBay sell off its PayPal unit. (Reporting by Nadia Damouni and Phil Wahba in New York)

Stocks slide on Wall Street; Volatile biotechnology sector takes another plunge; eBay down

NEW YORK, N.Y. - U.S. stocks are heading lower after a mixed batch of corporate earnings reports. Biogen Idec, Gilead Sciences and other biotech companies extended their recent slump. The Standard The Dow Jones industrial average lost 75 points, or 0.5 per cent, to 16,361. The Nasdaq composite index dropped 75 points, or 1.8 per cent, to 4,108. Ebay dropped 3 per cent on news that Carl Icahn is backing down from his campaign to shake up the company.

EBay, Icahn settle proxy fight; Icahn withdraws proposal that PayPal be spun off from eBay

SAN JOSE, Calif. - Ebay and billionaire activist investor Carl Icahn have settled their proxy fight ahead of the company's annual meeting. Icahn and eBay had been in an acrimonious tussle over PayPal, the e-commerce company's quickly growing mobile payment arm. Icahn, who owns about 2 per cent of eBay's shares, said repeatedly the company should spin off all or part of PayPal, while eBay has said the company is better as a whole. Icahn has also criticized the company's directors including CEO John Donahoe.

US stocks fall after weak Chinese trade data

US stocks Thursday moved lower in early trade as investors weighed weak Chinese trade data and an encouraging report on US jobless claims. About 30 minutes into trade, the Dow Jones Industrial Average edged down 11.69 points (0.07 percent) to 16,425.49. The broad-based S&P 500 dipped 4.49 (0.24 percent) to 1,867.69, while the tech-rich Nasdaq Composite Index fell 31.51 (0.75 percent) to 4,152.39. March trade data for China, the world's second-largest economy, showed imports dropped 11.3 percent and exports fell 6.6 percent.

US stocks fall after weak Chinese trade data

US stocks Thursday moved lower in early trade as investors weighed weak Chinese trade data and an encouraging report on US jobless claims. About 30 minutes into trade, the Dow Jones Industrial Average edged down 11.69 points (0.07 percent) to 16,425.49. The broad-based S&P 500 dipped 4.49 (0.24 percent) to 1,867.69, while the tech-rich Nasdaq Composite Index fell 31.51 (0.75 percent) to 4,152.39. March trade data for China, the world's second-largest economy, showed imports dropped 11.3 percent and exports fell 6.6 percent.

Herbalife nominating 3 people backed by activist investor Icahn to its board

LOS ANGELES, Calif. - Herbalife said Monday that it is nominating three people backed by activist investor Carl Icahn to its board. If elected, the latest nominees would bring the number of Icahn-supported people on Herbalife's board to five. There are already two currently on the board. Icahn owns about 16.8 per cent of Herbalife Ltd.'s common stock. Herbalife, which makes supplements and weight-loss products, says it plans to keep the size of the board at 13.

Lions Gate admits fault over Icahn hostile bid in SEC pact

By Sarah N. Lynch WASHINGTON (Reuters) - Lions Gate Entertainment Corp admitted on Thursday it failed to disclose to investors in 2010 the steps it took to thwart a hostile takeover bid by billionaire Carl Icahn, as part of a settlement with U.S. regulators. Lions Gate, which produces popular movies and television shows like "The Hunger Games" and "Mad Men," also agreed to pay $7.5 million to settle the charges, the Securities and Exchange Commission said.

SEC fines Lions Gate $7.5 million for bond-equity swap in takeover defence against Icahn

WASHINGTON - The Securities and Exchange Commission levied a $7.5 million fine against movie studio Lions Gate Entertainment Corp. for failing to properly disclose its role in a complex debt-equity swap that helped it fend off a hostile takeover bid from Carl Icahn in 2010. The SEC said Thursday that Lions Gate had agreed to pay the fine and admitted wrongdoing. A Lions Gate spokesman declined to comment.

Icahn says Actavis-Forest deal validates shareholder activism

By Toni Clarke (Reuters) - After a nearly three-year campaign at Forest Laboratories Inc <FRX.N> that spanned two proxy battles and the ousting of a chief executive, billionaire activist investor Carl Icahn has once again ended up on top. The proposed $25 billion acquisition of Forest Labs by generic drug maker Actavis Plc <ACT.N> is the biggest deal yet to emerge from Icahn's many forays into healthcare.

Actavis to buy Forest Labs in $25 billion deal

(Reuters) - Generic drugmaker Actavis Plc <ACT.N> said it would acquire specialty pharmaceuticals company Forest Laboratories Inc <FRX.N> in a cash and stock deal it valued at about $25 billion. Actavis shares rose 15 percent $221 in premarket trading on Tuesday as investors backed the latest step in the company's strategy of acquiring specialty drugmakers to boost profit margins and sales.
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