[nostrademons]

Who's the tax on? If I'm understanding the dynamics here, it looks like it's a tax on shareholders who buy in at inflated prices because Icahn is being an activist, and that once he sells his shares, everything will return to normal. If that's the case, then over time people should realize that Icahn buying into a company is a signal that it's overvalued and that premium should decrease. (In the meantime, he gets to bank large profits off this trade, but his name recognition and track record is a depreciating asset unless he actively improves stock performance.)