March 1, 2018 / 6:21 PM / 3 months ago

Icahn says he has a "large position" in Newell - CNBC

March 1 (Reuters) - Carl Icahn has built a “large position” in sharpie maker Newell Brands Inc, the activist investor told CNBC in an interview, and said that the company’s stock undervalued.

Icahn did not disclose the amount of his stake.

The move comes a couple of weeks after Starboard Value LP, which owns about 4 percent of Newell, expressed concerns about the company’s underperformance.

The company’s shares were up 3.2 percent at $26.52 in afternoon trading. (Reporting by Aishwarya Venugopal in Bengaluru Editing by Saumyadeb Chakrabarty)

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