UPDATE Icahn denies insider trading amid tariffs
Carl Icahn responded to his critics about his Manitowoc stock sales amid the possible implementation of tariffs by President Donald Trump.
"We don't generally comment on rumors, but the recent media speculation regarding our sale of Manitowoc stock calls for a response. We state for the record: Any suggestion that we had prior knowledge of the Trump administration's announcement of new tariffs on steel imports is categorically untrue. We reduced our position in Manitowoc for legitimate investment reasons having nothing to do with that announcement," the statement read.
Investment entities controlled by billionaire Carl Icahn shed one-third of their stakes in crane maker Manitowoc from Feb. 12 through Feb. 22, according to an SEC filing.
The entities sold nearly 940,000 Manitowoc shares at prices ranging from roughly $32 per share to $34 per share, the SEC filing said. The sales totaled about $31 million.
After the trades, Icahn owned 4.85 percent of the company, down from his previous stake of 7.5 percent.Read More...