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And at the t
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ime of writing,聽FDC is not looking great. Today the stock closed below its IPO price, at 15.83 per share.T
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he聽$2.6 billion in net proceeds that First Data聽picked up from its聽IPO聽is the biggest of the year. The company 聽valuation of聽$14 billion, however, is well below the $29 billion that KKR paid in 2007 when it bought out First Data and took the company private after its first outing in the public markets.While First Data did not give a reason for its IPO pricing decision, some believe it was because of the iffy聽market for IPOs right now. Others cite the fact that the company is carrying聽a lot of debt, currently to the tune of $21.16 billion, with a lot of that attributable to that buyout in 2007. The IPO proceeds will be used to pay some of that down.First Data聽is unprofitable, in part be
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cause of the interest it paying on that debt. In the first half of 2015, the company reported a net loss of $138 million.There are also some external factors that ma Fjev Uber launches personal injury and illness insurance in the UK with the IPSE
Icahn, of course, is best known as an activist shareholder who advocates for change in companies that he believes are not well run, and as a result, undervalued. He spent several years agitating the top brass at Yahoo, after founder and then-CEO Jerry Yang turned down a $45 billion acquisition offer from Microsoft. Just some perspective: Yahoo current market cap is under $20 billion today. After that, Icahn entered a proxy battle and was able to get himself and some compatriots installed on the Ya
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hoo board.Of course, we all know how
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that played out: After about a year-and-a-half Icahn stepped down from the board and eventually sold his stake in the company after having not accomplished much.
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But boy, was it a fun show to watch!According to an SEC filing, Icahn has bought a big chunk of Netflix stock nearly 10 percent altogether. It not clear exactly what his intentions are, but according to the filing, the investment was made because Icahn believes the stock i