Stock Market_Up

Billionaire investor Carl Icahn is taking an 8.2% stake in liquid natural gas company Cheniere Energy Inc.

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.

Read: Wall Street trader Gordon Gekko still relevant

Cheniere Energy did not immediately respond to a request for comment.

The Houston-based company took a loss of US$388.2 million, or US$1.71 per share, over the first half of the year. Its revenue edged up 1 per cent to US$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.

Also read:

Consumers enjoying lower energy costs

Cenovus Energy to chop dividend by 40%

Originally published on Advisor.ca

Add a comment

You must be logged in to comment.

Register on Advisor.ca