Icahn May Increase USX Stock Holdings: Carl...
From Times Staff and Wire Reports
Icahn May Increase USX Stock Holdings: Carl C. Icahn said if USX Corp. shareholders approve his proposal to spin off its steel business, he would increase his USX stock holdings by $800 million and pledge not to seek control of the company. Icahn, USX’s largest stockholder with a 13.3% stake, was apparently trying to counter suggestions that he has proposed the spinoff solely as a way to drive up the price of USX stock and then profit by selling his holdings. Shareholders are to vote on Icahn’s non-binding proposal at the company’s annual meeting May 7.
