ARTICLE | Finance
Iconic patience
BMS offer would give Icahn 34% return on four-year investment in Amylin
July 9, 2012 7:00 AM UTC
Carl Icahn's patience and persistence in agitating for the sale of Amylin Pharmaceuticals Inc. (NASDAQ:AMLN) paid off when Bristol-Myers Squibb Co. (NYSE:BMY) agreed to pay $31 per share for the diabetes company, which would translate into a 34% return for the activist investor.
In April, Icahn reported in an SEC filing that he bought his 14.4 million shares - or 8.8% stake in Amylin - for an average price of $23.30...