Long-Term Returns of Carl Icahn’s 10 Activist Targets

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6. Bausch Health Companies Inc. (NYSE:BHC)

Stock Return: -67.92%
S&P 500 Return: 14.08%
Investment date: 2/11/2021

Bausch Health Companies Inc. (NYSE:BHC) is a diversified pharmaceutical company that develops manufactures, and markets gastroenterology, hepatology, neurology, and dermatology products. Icahn started his association with the company in 2021 with a 7.8% stake and consequently pushed for seats on the board in the race to be in the driver’s seat.

Bausch Health Companies Inc. (NYSE:BHC) would agree to Icahn’s demands to expand the board of directors with two designees from Carl C Icahn and his affiliated entities. Icahn also agreed to a customary standstill, meaning he could no longer increase his stake in the company or launch a proxy fight for a certain period.

While Icahn still maintains its stake in Bausch Health Companies Inc. (NYSE:BHC), its value has declined by about 67.92% while S&P 500 gained 14.08%.

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