Carl Icahn Has Made Another $643 Million On His Forest Labs Stake Today
REUTERS/Jeff Zelevansky
"We were extremely pleased with the announcement this morning that Forest Labs is to be acquired by Actavis in a transaction that values Forest at approximately $89.48 per share," Icahn said in a statement.
According to Icahn's latest 13F filing, he held 30,662,005 shares of Forest Labs as of December 31, 2013.
Today, the stock has risen more than 29%, or about $21, putting the stock price at about $92.43 per share.
So in just today's trading session, Icahn has made an additional $643.9 million since the opening bell rang.
Overall, though, Bloomberg News' Miles Weiss estimates that he could make about $1.7 billion on this investment.
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