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Apple to ‘evaluate’ hedge fund’s cash demand

CNET – In a response to a legal threat from a prominent shareholder, Apple says it’s still evaluating its cash pile options.

After a complaint from a notable Apple investor that the company needs to share more of its cash pile with investors, the iPhone and Mac maker says it’s “evaluating” its possibilities.

In a statement today, Apple said it’s aware its cash has grown beyond what is needed to run day-to-day business — hence its dividend and stock buyback plan — but that it is still talking about other possibilities.

“Apple’s management team and Board of Directors have been in active discussions about returning additional cash to shareholders,” the company said this afternoon, just before the close of trading on Wall Street. “As part of our review, we will thoroughly evaluate Greenlight Capital’s current proposal to issue some form of preferred stock. We welcome Greenlight’s views and the views of all of our shareholders.”

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