In the long run the transaction will generate "excellent" returns for shareholders, reckons Mr Daniels.
The leaders of these companies have delivered their shareholders excellent returns and are the envy of their industries for business innovation, candor in governance and reliance on independent lead directors.
Coupled with its newfound success at adapting to changing market environments, and continual implementation of its international growth strategies, McDonald's could continue to provide excellent returns to shareholders for quite some time.
In November when Clear Channel reported third-quarter earnings the company said "we are in an excellent position to increase shareholder value over the long-term".
John Morgan, the executive chairman, said the deal represented "excellent value" for its shareholders.
"Over the past three years, our successful business strategy, led by Tidjane, and fully supported by the board, has delivered excellent results for customers, shareholders and employees.
Chief executive Paul Geddes said: The sale of our international businesses to Mapfre is a good result for all our stakeholders, providing excellent value for our shareholders, while offering our customers and colleagues stability and opportunity.
In his latest letter, Icahn wrote: "We are pleased that Apple has directionally followed our advice and repurchased $80bn of its shares [yielding the company's shareholders an excellent return], but the company's enormous net cash position continues to grow while the company's shares are still dramatically undervalued.
I am convinced that if we do these things well we will deliver excellent returns to our shareholders.
In governance, few really think shareholders make excellent monitors, leaving the task to self-interested activists and governance watchers.
