ARTICLE | Finance
Gaining leverage
Reading the tea leaves of Icahn's Vivus debt play
September 14, 2015 7:00 AM UTC
Carl Icahn wants to buy up convertible notes of Vivus Inc. (NASDAQ:VVUS), and if the debt holders agree to his terms the financier would gain a major bargaining chip with the obesity play. Vivus shareholders clearly like that Icahn has Vivus in his sights, as the stock jumped $0.58 (49%) to $1.77 last week on no other news.
"If you own the debt, you own the company," said Ladenburg Thalmann's Edwin Gordon. ...