NEW YORK: Billionaire Carl Icahn is calling on Southwest Gas Holdings Inc to first offer shares to existing shareholders, including himself, if it pushes ahead with selling up to US$1bil (RM4.15bil) in equity and equity-linked securities to help finance its takeover of pipeline company Questar.
The activist investor also said in a new letter to the company’s board that he intends to file with regulators tomorrow to push ahead with his own plans to acquire the shares in Southwest that he doesn’t already own for US$75 (RM311.55) apiece through a tender offer. The purchases would be made through his Icahn Enterprises.