NEW YORK — Billionaire investor Carl Icahn, in a public letter to Apple CE Tim Cook, on Thursday urged Apple to start an immediate tender offer of $150bn.The letter, issued in conjunction with Mr Icahn’s new website, Shareholders Square Table, comes after Icahn urged Mr Cook during the US summer to use Apple’s $150bn in surplus cash to buy back company shares.In the wake of Mr Icahn’s letter, Bill Gross, co-chief investment officer at Pacific Investment Management Compnay (Pimco) and a prolific tweeter, said via Twitter: "Icahn should leave Apple alone … spend more time like Bill Gates. If Icahn’s so smart, use it to help people not yourself."In a tender offer, a company offers to purchase some or all of its investors’ shares.Although tender offers usually come at a premium to the share price, Mr Icahn wants Apple to borrow money to make its offer at $525 per share, the level at which shares of Apple are trading. In the letter, Mr Icahn revealed he owns 4.7-million shares of Apple s...
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