Carl Icahn cuts his stake in Crown Holdings
By Ben Glickman
Activist investor Carl Icahn has lowered his holdings in beverage-can maker Crown Holdings (CCK) about a year after he bought a stake in the company.
Icahn now owns a 6.7% stake in Crown, down from the 8.5% stake he built up in the company and disclosed in November 2022.
Icahn and Crown Holdings reached a cooperation agreement in December 2022, under which Icahn Enterprises appointed two representatives to Crown's board of directors.
Icahn's stake is now valued at around $657 million, based on the Nov. 1 closing price of $80.91.
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11-01-23 1905ET
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