Carl Icahn Raises Stake in Cheniere Energy
September 14 2015 - 7:00PM
Dow Jones News
Billionaire investor Carl Icahn on Monday disclosed he had
raised his stake in Cheniere Energy Inc.
Funds controlled by Mr. Icanh, which last month reached an
agreement with Cheniere to add two representatives to its board,
now hold 22.7 million of the Houston energy company's outstanding
shares, or about 9.59%.
Earlier in August, the Icahn-led group disclosed an 8.18% stake
in Cheniere, saying, among other things, the company's stock was
undervalued.
Cheniere is preparing to export the first major amounts of U.S.
natural gas by sea this year from a plant in the final phases of
construction on Louisiana's Gulf Coast. The company has lost money
every year since it was founded almost two decades ago, but its
contracts to sell gas promise to generate billions of dollars
annually once shipments begin.
Shares, down 23% this year, rose nearly 3% to $55.70 in late
trading.
Josh Beckerman and Daniel Gilbert contributed to this
article.
Write to Maria Armental at maria.armental@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 14, 2015 18:45 ET (22:45 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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