Apple Explains Why Icahn's Buyback Proposal Should Be Shot Down

wochit technology
December 27, 2013 AT 2:59 PM
Apple’s annual shareholder meeting will be held on February 28, and among 11 proposals to be discussed will be one from Carl Icahn. Revealed in a proxy statement filed by Apple Friday afternoon, Icahn’s advisory proposal asks Apple to increase the size of its stock buyback program in 2014 to $50 billion. That’s a move the company’s board of directors recommends shareholders vote against.