Attached files
| file | filename |
|---|---|
| 8-K - CURRENT REPORT - ICAHN ENTERPRISES L.P. | v386495_8k.htm |
Exhibit 99.1
The Value of Activist Board Membership
The following Chart has been prepared by Icahn Enterprises and responds to those that question the efficacy of including activists' designees on public company Boards of Directors.
From January 1, 2009 to June 30, 2014 (a 5.5 year period) Icahn designees have joined the Boards of the 23 companies listed in the Chart. As reflected in the Chart, a person that invested in each company on the date that the Icahn designee joined the Board, and that sold on the date that the Icahn designee left the Board (or continued to hold through June 30, 2014 if the designee did not leave the Board) would have obtained an annualized return of 27%.
| Date Exited | Hypothetical | |||||||||
| Board (or | Investor | |||||||||
| 6/30/2014 if | annualized | |||||||||
| Date Joined | still on | Return during | ||||||||
| # | Company Name | Board | board) | board tenure | ||||||
| 1 | Amylin Pharmaceuticals Inc | 6/9/2009 | 8/8/2012 | 38 | % | |||||
| 2 | Biogen Idec Inc | 6/10/2009 | 6/30/2014 | 43 | % | |||||
| 3 | Chesapeake Energy Corp | 6/21/2012 | 6/30/2014 | 33 | % | |||||
| 4 | CIT Group Inc | 12/18/2009 | 5/10/2011 | 38 | % | |||||
| 5 | Dynegy Inc | 3/9/2011 | 10/1/2012 | -81 | % | |||||
| 6 | Ebay Inc | 6/17/2014 | 6/30/2014 | 76 | % | |||||
| 7 | Enzon Pharmaceuticals Inc | 5/21/2009 | 6/30/2014 | -10 | % | |||||
| 8 | Forest Laboratories Inc. | 8/5/2012 | 6/30/2014 | 77 | % | |||||
| 9 | Genzyme Corp | 6/16/2010 | 4/11/2011 | 61 | % | |||||
| 10 | Herbalife International Ltd | 4/25/2013 | 6/30/2014 | 60 | % | |||||
| 11 | Hologic Inc | 12/9/2013 | 6/30/2014 | 28 | % | |||||
| 12 | Mentor Graphics Corp | 5/18/2011 | 6/30/2014 | 13 | % | |||||
| 13 | MGM Studios | 4/25/2012 | 8/15/2012 | 96 | % | |||||
| 14 | Motorola Mobility Inc | 1/3/2011 | 5/22/2012 | 22 | % | |||||
| 15 | Motorola Solutions Inc | 1/4/2011 | 3/1/2012 | 23 | % | |||||
| 16 | Navistar International Corp | 10/8/2012 | 6/30/2014 | 33 | % | |||||
| 17 | Nuance Communications, Inc | 10/7/2013 | 6/30/2014 | 2 | % | |||||
| 18 | Talisman Energy Inc | 12/1/2013 | 6/30/2014 | -15 | % | |||||
| 19 | Take-Two Interactive Software Inc. | 4/15/2010 | 11/26/2013 | 12 | % | |||||
| 20 | The Hain Celestial Group Inc | 7/7/2010 | 11/19/2013 | 52 | % | |||||
| 21 | Transocean Ltd | 5/17/2013 | 6/30/2014 | -10 | % | |||||
| 22 | Voltari Corp | 6/17/2010 | 6/30/2014 | -62 | % | |||||
| 23 | WebMD Health Corp | 7/24/2012 | 8/5/2013 | 124 | % | |||||
| Total | 27 | % | ||||||||
Returns assume equal weighting in each investment.
Source of return data = Bloomberg Total Return function including dividends reinvested.
The Chart does not reflect the actual results of IEP’s Investment segment, nor is it necessarily indicative of future results of IEP’s Investment segment.