Apple's Cook, Icahn slated for Monday meetup, another report claims

The two men are expected to discuss Apple's share buyback program and the extent to which the company should purchase shares.

Screenshot by Stephen Shankland/CNET

Apple CEO Tim Cook and activist investor Carl Icahn are just days away from their big meetup.

Cook and Icahn will meet Monday to discuss a share buyback program Apple has instituted, All Things Digital reported on Friday, citing people familiar with their plans. The report comes just a day after David Faber of CNBC said that the two men would be meeting on Monday.

Last month, Icahn tweeted that he would be meeting with Cook in September, but didn't specify a date. In that tweet, he mentioned plans to discuss the "magnitude" of Apple's buyback program.

Icahn is a significant individual investor in Apple; reports of his stake range between $1.5 billion and more than $2 billion. Earlier this year, Apple announced that it would return $100 billion of its cash to shareholders through dividends and a $60 billion share buyback. Apple started buying back some shares last year. Icahn would like to see Apple increase its buyback program to reduce the number of available shares and cause its stock price to rise.

For its part, Apple has said that its buyback level is appropriate and that it has no plans to increase its investment in shares. It's possible Cook might make that point at his tete-a-tete with Icahn on Monday.

Featured Video
This content is rated TV-MA, and is for viewers 18 years or older. Are you of age?
Sorry, you are not old enough to view this content.

Details about Apple's 'spaceship' campus from the drone pilot who flies over it

MyithZ has one of the most popular aerial photography channels on YouTube. With the exception of revealing his identity, he is an open book as he shares with CNET's Brian Tong the drone hardware he uses to capture flyover shots of the construction of Apple's new campus, which looks remarkably like an alien craft.

by Brian Tong