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Where Carl Icahn Went Wrong

The activist won the battle for Newell Brands — but so far isn’t winning the war.

Carl Icahn’s big win with consumer products company Newell Brands has been nothing short of a Pyrrhic victory.Last year, Icahn thwarted an activist proxy contest by activist hedge fund firm Starboard Value by promising Newell CEO Michael Polk he could keep his job, according to people familiar with the situation.

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