Nuance to add pair of Icahn nominees to board

October 8, 2013

Nuance Communications Inc. says it's reached a deal with billionaire investor Carl Icahn to add two of his nominees to its board.

The nominees include Brett Icahn, the activist investor's son, and David Schechter, an Icahn employee since 2004. Both men are co-managers of the Sargon Portfolio, a group of assets within Icahn Enterprises LP's Investment segment.

Carl Icahn is largest shareholder in the maker, with a nearly 17 percent stake. He tweeted Tuesday that he's happy with the deal and optimistic the presence of his son and Schechter will drive Nuance's stock higher.

As part of the deal, Carl Icahn will support the company's slate of board nominees, including his son and Schechter, at its 2014 annual meeting.

Nuance shares rose 2 percent in premarket trading.

Explore further: Report: Icahn backing away from Dell bid

Related Stories

Report: Icahn backing away from Dell bid

April 19, 2013

According to a published report, billionaire investor Carl Icahn is unlikely to follow through on a preliminary offer to acquire Dell, becoming the second suitor to revise views of the company after reports showed a staggering ...

Judge won't fast-track Icahn claim against Dell

August 17, 2013

A Delaware judge has refused to fast-track a trial on billionaire investor Carl Icahn's (EYE'-kahn) claims that Dell Inc. directors have breached their fiduciary duties in scheduling a vote on founder and CEO Michael Dell's ...

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.

Southeastern takes 12 pct stake in News Corp.

September 11, 2013

Southeastern Asset Management Inc., the investment firm that along with activist investor Carl Icahn opposed the proposed buyout of Dell Inc., disclosed that it has taken a nearly 12 percent stake in News Corp.

Recommended for you

Facebook ready to test giant drone for Internet service

July 30, 2015

Facebook says it will begin test flights later this year for a solar-powered drone with a wingspan as big as a Boeing 737, in the next stage of its campaign to deliver Internet connectivity to remote parts of the world.

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. ...

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.