Deals
Icahn Threatens Legal Action as Southwest Gas Spat Intensifies
- Billionaire offering $75 a share to buy remainder of company
- Board has rejected offer, saying it undervalues Southwest Gas
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Activist investor Carl Icahn is threatening to take legal action if Southwest Gas Holdings Inc.’s leadership sells stock in the company for less than the $75 a share he has offered to take it over.
In a letter Thursday to the company’s board of directors, Icahn repeated his offer at that price to either buy the shares he doesn’t already own or help finance a $1.97 billion acquisition of pipeline company Questar -- a deal he opposes.