Carl Icahn Makes Unsolicited Offer to Buy All Outstanding Shares of This Company

Billionaire investor Carl Icahn has made an unsolicited offer to buy all of the outstanding shares of Southwest Gas Holdings Inc.

Icahn took to Twitter to make his offer of $75 for each outstanding Southwest Gas share on Wednesday.

The investor’s bio on Twitter reads: “I make money studying natural stupidity.”

Southwest Gas made a response via statement and advised shareholders to take no action until its board has time to review and evaluate the offer.

Icahn and Southwest Gas have been in a public argument much of the month since the activist investor revealed he held a 4.9% stake in the Las Vegas-based energy company.

He had accused Southwest Gas executives for “egregious errors” and said their plan to buy Questar Pipeline Co. was a mistake. Southwest went against Icahn’s beliefs and went ahead with plans
to buy Questar for about $2 billion.

Icahn’s offer carries conditions and expires Dec. 27.

His offer gives Southwest Gas a market value of about $4.2 billion, according to data compiled by Bloomberg.

Southwest Gas aims to make the board’s position known to shareholders within 10 business days.

Disclaimer: We have no position in any of the companies mentioned and have not been compensated for this article.