Icahn takes 8.2% Stake in Cheniere Energy
NEW YORK (AP) — Billionaire investor Carl Icahn is taking an 8.2% stake in liquid natural gas company Cheniere Energy Inc., sending its shares higher Thursday in aftermarket trading.
Icahn disclosed ownership of 19.4 million shares of Cheniere, which owns a liquid natural gas terminal and pipeline in Louisiana. Icahn’s funds say they want to start talks with the company about its business, financing of capital spending and executive compensation, and Icahn may seek representation on the board of directors.
Cheniere Energy did not immediately respond to a request for comment.
Shares of Cheniere Energy jumped $4.18, or 6.5%, to $68.99 in aftermarket trading. The stock closed at $64.81 on Thursday.
The Houston-based company took a loss of $388.2 million, or $1.71 per share, over the first half of the year. Its revenue edged up 1% to $136.4 million.
Icahn is known for tangling with the boards of companies like Apple Inc., Yahoo Inc., Hertz Global Holdings Inc. and eBay Inc. He also invested in ride-hailing app Lyft this year.
Related News
Related News
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Freeport LNG Plant Runs Near Zero Consumption for Fifth Day
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- Evacuation Technologies to Reduce Methane Releases During Pigging
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Russian LNG Unfazed By U.S. Sanctions
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
Comments