Carl Icahn's Shopping List
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Date updated:02-10-2007

From Barron's 2-12-07 issue:

WHAT ELSE IS ON CARL ICAHN'S SHOPPING LIST? That question has been making the rounds since the billionaire investor announced he had amassed a 1.4% stake in Motorola (MOT), and plans to prod the company to buy back a very big pile of its cheap shares.

If Icahn's assessment is right, other telecom-equipment and chip companies may soon find themselves caught in the cross-hairs of impatient shareholders or buyout firms, all eyeing their cash stashes. And Icahn isn't the only one on the prowl. Recent multi-billion buyouts of Freescale Semiconductor (FSL) and Philips Electronics' (PHG) chip unit suggest that cash-rich chip or telecom-equipment makers with underleveraged balance sheets are quickly becoming a new quarry.

"Both events represent an effort to extract shareholder value through a change in capital structure," says Zhiping Zhao, a senior analyst at the independent research firm CreditSights, who sees mounting "pressure from shareholders for these companies to return excess cash, as well as optimize capital structure and create shareholder value."

But Zhao flagged companies like ADI (ADI), Linear Technologies (LLTC), Maxim (MXIM), Altera (ALTR), and Xilinx (XLNX) as potential LBO targets. European companies like Infineon (IFX) and ST Microelectronics also screen as cheap LBO targets considering the debt that can be loaded onto their ledgers.

symbol name last price % change open
  • +
  • MOT
    Motorola Inc
  • $8.89
  • -4.51%
  • $9.26

the billionaire investor announced he had amassed a 1.4% stake in Motorola (MOT), and plans to prod the company to buy back a very big pile of its cheap shares.

People owning MOT also tend to own: CCLXCVSGOOGGSHDJNJ

TheStreet.com Rating: D+ What is this?

  • +
  • ADI
    Analog Devices
  • $26.52
  • -1.30%
  • $26.71

No Analysis added

People owning ADI also tend to own: CSCOUARMAIGALLAPACATDD

TheStreet.com Rating: B- What is this?

  • +
  • LLTC
    Linear Technology
  • $26.72
  • -0.60%
  • $26.70

No Analysis added

People owning LLTC also tend to own: AMATAROCFICHRSCYEMCLAVA

TheStreet.com Rating: C What is this?

  • +
  • MXIM
    Maxim Integrated
  • $17.47
  • +1.04%
  • $17.33

No Analysis added

People owning MXIM also tend to own: ADTNALGNAMLNBEASCCMPCKFRCRL

TheStreet.com Rating: C What is this?

  • +
  • ALTR
    Altera Corporatio
  • $19.77
  • -0.85%
  • $19.80

No Analysis added

People owning ALTR also tend to own: ADIAPAAVPBBBYCOSTELEMC

TheStreet.com Rating: B What is this?

  • +
  • XLNX
    Xilinx
  • $21.89
  • -0.73%
  • $21.87

No Analysis added

People owning XLNX also tend to own: CRHIBMGOOGNUVOAAPLAKAMFDX

TheStreet.com Rating: B What is this?

  • +
  • IFX
    Ifx
  • $0.00
  • N/A
  • $N/A

No Analysis added

People owning IFX also tend to own: AMGNCICVSCVXEPGSFHAL

TheStreet.com Rating: No Rating What is this?

  • +
  • ERIC
    Lm Ericsson Telep
  • $10.24
  • -1.35%
  • $10.30

No Analysis added

People owning ERIC also tend to own: ANNAUYBACBHIFGEGLW

TheStreet.com Rating: C What is this?

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