Billionaire investor Carl Icahn denied on Wednesday that he has a stake in Samsung Electronics Co. Ltd. or is preparing a takeover bid for the company, according to a report.
We generally do not comment on any of our positions, but because it appears that someone may be spreading erroneous rumors about our position in Samsung, Icahn said to Dow Jones Newswires. I will state that not only do we not have a position in Samsung, I don't even know how to spell the company's name.
In a report released last week by Chosun Ilbo, South Korea's largest newspaper, an unnamed Samsung executive indicated that Carl Icahn and other hedge funds were planning a hostile take over of the company.
Speculation sent shares of the company up more than 6 percent, drawing attention away from the company's report of a weak second quarter.