Carl Icahn's stake in Nuance grows to 16.9 pct.

September 1, 2013

Billionaire investor Carl Icahn has raised his stake in Nuance Communications over the past month to almost 17 percent, nearing a threshold that would trigger defensive mechanisms to thwart a hostile takeover.

A regulatory filing shows that Icahn held about 52.4 million shares, or 16.9 percent of Nuance's outstanding shares, as of Thursday.

The disclosure tallied share purchases over several weeks, beginning Aug. 7.

Earlier this month, the maker adopted a plan to shield itself against a hostile takeover in the event a person or group acquired 20 percent or more of the company's stock without board approval.

When such "poison pills" kick in, they enable existing stockholders to acquire additional shares at lower prices.

Shares of Nuance Communications Inc. are down 14 percent this year.

Explore further: Netflix moves to block a hostile takeover (Update)

Related Stories

Netflix moves to block a hostile takeover (Update)

November 5, 2012

(AP)—Netflix is moving to protect itself against hostile takeovers, less than a week after activist investor Carl Icahn disclosed that he has accumulated a stake of nearly 10 percent in the online video company.

Investor contests condition in latest Dell offer (Update)

July 29, 2013

Billionaire investor Carl Icahn is renewing his attack on Michael Dell's leadership and warning that the latest offer from Dell to buy the struggling PC maker he founded bypasses an important shareholder safeguard.

Recommended for you

Power grid forecasting tool reduces costly errors

July 30, 2015

Accurately forecasting future electricity needs is tricky, with sudden weather changes and other variables impacting projections minute by minute. Errors can have grave repercussions, from blackouts to high market costs. ...

Netherlands bank customers can get vocal on payments

August 1, 2015

Are some people fed up with remembering and using passwords and PINs to make it though the day? Those who have had enough would prefer to do without them. For mobile tasks that involve banking, though, it is obvious that ...

Microsoft describes hard-to-mimic authentication gesture

August 1, 2015

Photos. Messages. Bank account codes. And so much more—sit on a person's mobile device, and the question is, how to secure them without having to depend on lengthy password codes of letters and numbers. Vendors promoting ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.