Icahn to Invest $200 Million More in WestPoint Home
December 18, 2006,
New York — In a show of support for WestPoint Home, investor Carl Icahn, who controls the major mill through his American Real Estate Partners holding company, said he will invest up to $200 million more in WestPoint.
The news would seem to knock down speculation that Icahn has grown impatient with his WestPoint investment.
Icahn's cash commitment is the second dose of good news for the major mill in less than a month, following word the company had cut its third-quarter operating loss by more than half from the preceding second quarter. Additionally, sales edged up by 1.4% during the third quarter, making progress throughout the year in a tough retail environment.