Icahn Calls on Southwest Gas to Sell Its Construction Unit
- Management is ‘insulting to the intelligence’ of shareholders
- Reiterates call to abandon $2 billion Questar pipeline deal
Carl Icahn
Photographer: Victor J. Blue/Bloomberg
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Activist investor Carl Icahn is ratcheting up the pressure on Southwest Gas Holdings Inc., calling on the utility company to sell its Centuri Group construction business and repeating calls to abandon its recent pipeline deal.
The billionaire, who owns 4.9% of Southwest Gas, wrote in an open letter Wednesday that he believes shareholders are “fed up” with decisions by management that have destroyed value for investors.