King Icahn: Biography of a Renegade Capitalist by Mark Stevens

Author:Mark Stevens [Stevens, Mark]
Language: eng
Format: epub, mobi
Published: 2014-05-13T21:00:00+00:00

As negotiations with Icahn continued, Leon Black huddled with Carl at his offices, placing dozens of phone calls to Fred Josephs, then head of Drexel’s corporate finance department. The goal was to come up with a letter that would “make a commitment without making a commitment.” To this end, all sort of possibilities were raised. “We feel confident we can raise the money” looked like a strong possibility. As did “We believe we can raise the money.” But as close as this language came to making the point, it somehow missed the mark. Only when Leon Black came up with the idea that Drexel would say it was “highly confident” that it could raise the financing did lightning strike. Instantly everyone knew they had hit upon the magic words.

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