Insiders

Carl Icahn owns over 8% stake in beverage-can maker Crown Holdings -WSJ

November 02, 2022 at 09:50 pm EDT

(Reuters) - Carl Icahn has a more than 8% stake in Crown Holdings Inc, the Wall Street Journal reported on Wednesday, adding that the activist investor believes the beverage-can maker should shed non-core units and buy back more stock.

The billionaire has a stake worth about $700 million, which makes him the company's second-largest holder, the report said, citing people familiar with the matter.

The development comes after the company last week lowered its 2022 guidance on stronger U.S. dollar, higher energy costs in Europe, and increased interest expenses. Its shares had also slid 18% to their lowest in more than two years.

The company's existing market value is about $8.09 billion, according to Refinitiv data.

Carl Icahn and Crown Holdings did not immediately respond to Reuters' requests for comment.

(Reporting by Baranjot Kaur in Bengaluru; editing by Uttaresh.V)

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	CROWN HOLDINGS, INC.	80.59 USD	+1.02%	+3.76%	9.52B

Carl Icahn

Mr. Carl C. Icahn is a Chairman at CVR Refining GP LLC, at Icahn Enterprises G.P. Inc., at Icahn Enterprises Holdings LP, at Starfire Holding Corp., at ACF Industries LLC, at Atlantic Coast Entertainment Holdings, Inc., at Greate Bay Hotel & Casino, Inc., at Icahn Enterprises Finance Corp., at Icahn Enterprises LP, a Chief Executive Officer at Icahn Capital LP, at General Partners LLC at GB Property Funding Corp., and a Chairman of the Board at Icahn Associates Holding LLC. Mr. Icahn was previously employed as a Chairman by CVR Refining LP, by GB Holdings, Inc., by Maupintour Holding LLC, by American Railcar Industries, Inc., by CVR Energy, Inc., by XO Communications, Inc., by Tropicana Entertainment, Inc., by WCI Communities, Inc., by ImClone Systems, Inc., a Non-Executive Chairman by Federal-Mogul Corp., by Federal-Mogul LLC, by Federal-Mogul Holdings Corp., a Chief Executive Officer by Icahn Capital Management LP, by Icahn Management LP, a Member chCCI Offshore LLC, by Financial Industry Regulatory Authority, Inc., by National Association of Securities Dealers, Inc., by National Association of Securities Professionals, by CCI Onshore LLC, a Chairman & President by XO Holdings, Inc., a President & Director by Stratosphere Corp., a General Partner by American Real Estate Partners LP, a Chairman & President by Icahn & Co., Inc., a Non-Executive Chairman by Federal-Mogul Motorparts LLC, an Owner by Sands Hotel & Casino /Atlantic City/, by Stratosphere Hotel, and a Chairman & Chief Executive Officer by Trans World Airlines, Inc. He received his undergraduate degree from Princeton University.

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Icahn Associates Holding LLC Icahn Associates Holding LLC Investment ManagersFinance Icahn Associates Holding LLC is an independent hedge fund manager headquartered in New York City. The firm is affiliated with Icahn Enterprises LP (NASDAQ: IEP), a Delaware master limited partnership and diversified holding company engaged in nine primary business segments: Investment, Automotive, Energy, Railcar, Mining, Food Packaging, Metals, Real Estate and Home Fashion. Icahn Associates Holding manages assets of high net-worth clients.	Chairman
ACF Industries LLC ACF Industries LLC Wholesale DistributorsDistribution Services ACF Industries LLC manufactures and fabricates railcar parts and miscellaneous steel products. Its capabilities include car conversions, repair programs, welded sub-assemblies, pressure vessels, railcar wheel, and axle machining & mounting. The company was founded in 1899 and is headquartered in St. Charles, MO.	Chairman

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