Carl Icahn slashed his company’s quarterly payouts in half and pledged to “stick to our knitting” in another substantive move acknowledging complaints raised by short-seller Hindenburg Research earlier this year.
Shares of Icahn Enterprises LP fell as much as 37% in New York on Friday after the firm said it will pay out $1 per depositary unit, down from the previous $2 a unit.
The company’s second-quarter loss more than doubled from a year earlier, and Icahn pledged a “reset” with the firm reducing its short bets and focusing on the activism that made him a famed investor.
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