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"Enough Is Enough": David Tepper Slams Whirlpool For Value Destruction In "Scathing" Letter
"Enough Is Enough": David Tepper Slams Whirlpool For Value Destruction In "Scathing" Letter
David Tepper, the billionaire behind Appaloosa Management, blasted Whirlpool’s board in a sharply critical letter, accusing the appliance maker of eroding shareholder value and demanding a strategic reset, according to CNBC, who viewed the letter.
Tepper said he watched with “a certain astonishment” as Whirlpool moved ahead with what he described as a sizable and avoidable equity issuance that diluted investors. He argued the capital raise carried a cost of more than 10% — far above the company’s...
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