UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): November 26, 2013
Icahn Enterprises L.P.
(Exact name of registrant as specified in its charter)
| Delaware | 1-9516 | 13-3398766 | ||
| (State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer |
| 767 Fifth Avenue, Suite 4700, New York, NY | 10153 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s Telephone Number, Including Area Code: (212) 702-4300
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| o | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
ITEM 7.01 REGULATION FD DISCLOSURE
Icahn Enterprises L.P. has attached hereto as Exhibit 99.1 a copy of presentation materials that it intends to use in connection with meetings with investors, groups of investors and media and in connection with presentations and speeches to various audiences.
The information contained in Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. In addition, the information contained in Exhibit 99.1 shall not be incorporated by reference into any of Icahn Enterprises L.P.’s filings with the Securities and Exchange Commission or any other document except as shall be expressly set forth by specific reference in such filing or document.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Presentation materials |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ICAHN ENTERPRISES L.P. | |||
| (Registrant) | |||
| By: | Icahn Enterprises G.P. Inc. | ||
| its general partner | |||
| By: | /s/ Peter Reck | ||
| Peter Reck | |||
| Chief Accounting Officer | |||
Date: November 26, 2013
The Value of Activist Board Membership
The following Chart has been prepared by Icahn Enterprises and responds to those that question the efficacy of including activists’ designees on public company Boards of Directors.
From November 15, 2008 to November 15, 2013 (a 5 year period) Icahn designees have joined the Boards of the 20 public companies listed in the Chart. As reflected in the Chart, a person that invested in each company on the date that the Icahn designee joined the Board, and that sold on the date that the Icahn designee left the Board (or continued to hold through November 15, 2013 if the designee did not leave the Board) would have obtained an annualized return of 28%. A 28% annualized return reflects favorably relative to the various metrics set forth in the Chart for comparison purposes.
| Date | S&P 500 | Dow Jones | Russell | |||||||||||||||||||||||||||||||||||||
| Exited | Hypothetical | Berkshire | Leucadia | Loews Corp | annualized | annualized | annualized | Hedge Fund | ||||||||||||||||||||||||||||||||
| Board (or | Investor | Hathaway Inc | National Corp | annualized | return | return | return | Index | ||||||||||||||||||||||||||||||||
| 11/15/2013 | annualized | annualized | annualized | return | during | during | during | annualized | ||||||||||||||||||||||||||||||||
| Date Joined | if still on | Return during | return during | return during | during | board | board | board | return during | |||||||||||||||||||||||||||||||
| # | Company Name | Board | board) | board tenure | board tenure | board tenure | board tenure | tenure | tenure | tenure | board tenure | |||||||||||||||||||||||||||||
| 1 | Amyln Pharmaceuticals Inc | 6/9/2009 | 8/8/2012 | 38 | % | 11 | % | 0 | % | 13 | % | 16 | % | 17 | % | 16 | % | 1 | % | |||||||||||||||||||||
| 2 | Biogen Idec Inc | 6/10/2009 | 11/15/2013 | 42 | % | 16 | % | 6 | % | 14 | % | 18 | % | 18 | % | 20 | % | 3 | % | |||||||||||||||||||||
| 3 | Chesapeake Energy Corp | 6/21/2012 | 11/15/2013 | 31 | % | 29 | % | 29 | % | 15 | % | 27 | % | 22 | % | 33 | % | 6 | % | |||||||||||||||||||||
| 4 | CIT Group Inc | 12/18/2009 | 5/10/2011 | 38 | % | 15 | % | 42 | % | 12 | % | 18 | % | 19 | % | 29 | % | 4 | % | |||||||||||||||||||||
| 5 | Dynegy Inc | 3/9/2011 | 10/1/2012 | -81 | % | 2 | % | -21 | % | -1 | % | 8 | % | 10 | % | 3 | % | -5 | % | |||||||||||||||||||||
| 6 | Enzon Pharmaceuticals Inc | 5/21/2009 | 11/15/2013 | -12 | % | 16 | % | 10 | % | 16 | % | 19 | % | 19 | % | 22 | % | 3 | % | |||||||||||||||||||||
| 7 | Forest Laboratories Inc. | 8/5/2012 | 11/15/2013 | 40 | % | 27 | % | 30 | % | 15 | % | 25 | % | 20 | % | 33 | % | 6 | % | |||||||||||||||||||||
| 8 | Genzyme Corp | 6/16/2010 | 4/11/2011 | 61 | % | 7 | % | 96 | % | 36 | % | 26 | % | 27 | % | 33 | % | 8 | % | |||||||||||||||||||||
| 9 | Herbalife International Ltd | 4/25/2013 | 11/15/2013 | 200 | % | 15 | % | -11 | % | 13 | % | 28 | % | 19 | % | 38 | % | 3 | % | |||||||||||||||||||||
| 10 | Mentor Graphics Corp | 5/18/2011 | 11/15/2013 | 18 | % | 16 | % | -8 | % | 6 | % | 15 | % | 13 | % | 14 | % | 0 | % | |||||||||||||||||||||
| 11 | MGM Studios | 4/25/2012 | 8/15/2012 | 96 | % | 21 | % | -33 | % | -1 | % | 6 | % | 5 | % | -2 | % | -2 | % | |||||||||||||||||||||
| 12 | Motorola Mobility Inc | 1/3/2011 | 5/22/2012 | 22 | % | 0 | % | -22 | % | 0 | % | 5 | % | 8 | % | -2 | % | -6 | % | |||||||||||||||||||||
| 13 | Motorola Solutions Inc | 1/4/2011 | 3/1/2012 | 23 | % | -1 | % | -3 | % | 1 | % | 9 | % | 13 | % | 5 | % | -5 | % | |||||||||||||||||||||
| 14 | Navistar International Corp | 10/8/2012 | 11/15/2013 | 66 | % | 26 | % | 26 | % | 13 | % | 24 | % | 19 | % | 31 | % | 6 | % | |||||||||||||||||||||
| 15 | Nuance Communications, Inc | 10/7/2013 | 11/15/2013 | -70 | % | 30 | % | 36 | % | 27 | % | 98 | % | 91 | % | 56 | % | 10 | % | |||||||||||||||||||||
| 16 | Take-Two Interactive Software Inc. | 4/15/2010 | 11/15/2013 | 15 | % | 11 | % | 2 | % | 7 | % | 14 | % | 14 | % | 14 | % | 1 | % | |||||||||||||||||||||
| 17 | The Hain Celestial Group Inc | 7/7/2010 | 11/15/2013 | 53 | % | 12 | % | 14 | % | 11 | % | 20 | % | 18 | % | 21 | % | 2 | % | |||||||||||||||||||||
| 18 | Transocean Ltd | 5/17/2013 | 11/15/2013 | 8 | % | 6 | % | -21 | % | 8 | % | 19 | % | 11 | % | 27 | % | 1 | % | |||||||||||||||||||||
| 19 | Voltari Corp | 6/17/2010 | 11/15/2013 | -59 | % | 12 | % | 10 | % | 11 | % | 17 | % | 16 | % | 18 | % | 1 | % | |||||||||||||||||||||
| 20 | WebMD Health Corp | 7/24/2012 | 8/5/2013 | 124 | % | 40 | % | 32 | % | 15 | % | 29 | % | 26 | % | 39 | % | 7 | % | |||||||||||||||||||||
| Total | 28 | % | 14 | % | 9 | % | 11 | % | 18 | % | 17 | % | 19 | % | 2 | % | ||||||||||||||||||||||||
Returns assume equal weighting in each investment.
Source of return data = Bloomberg Total Return function including dividends reinvested.
The Chart does not reflect the actual results of IEP’s Investment segment, nor is it necessarily indicative of future results of IEP’s Investment segment.