Carl Icahn Voices Opposition to AmTrust Privatization

Billionaire investor Carl Icahn is protesting AmTrust Financial Services’ proposed privatization, after scooping up more than 9% of the company’s shares since last month. AmTrust’s holders of common stock are set to vote June 4 on the privatization proposal, which would transfer ownership of the company to members of its founding family and Stone Point Capital. The transaction requires a vote in favor from a majority of shares not controlled by the Karfunkel-Zyskind family. The problem, according to Icahn, is that AmTrust “stealthily” set a record date ...