Icahn's investment firm rallies after report Carl Icahn unties personal loans from share price

Iep Invest NV

10/07/2023 12:24

** Shares of Icahn Enterprises LP  IEP.O  up 10% at $31.74
premarket after WSJ reports Carl Icahn unties personal loans
following short-seller report by Hindenburg Research
    ** Icahn has agreed to provide additional collateral, which
will total roughly $6 bln, including $2 bln of the billionaire's
own funds, and  laid out plan to repay the loans in three years,
WSJ reported, citing people familiar with the matter
    ** Hindenburg had called Icahn's pledge of about 60% of his
IEP stake as collateral for margin loans a risky form of
financing that could result in margin calls should IEP prices
decline
    ** Shares of IEP closed at $50.42 on May 1, a day before
Hindenburg accused it of overvaluing its holdings and operating
a "ponzi-like" structure to pay dividends
    ** Icahn called the report "self-serving" and vowed to
"fight back"

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))