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Icahn Takes 6% Stake in Talisman Energy, To Seek a Seat in the Board

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Activist investor, Carl Icahn said in a regulatory filing with the NYSE: TLM).  Shares of Talisman soared about 9% in aftermarket hours. The billionaire investor is now the second biggest shareholder holder of the company with 6% stake.

Icahn seeks to discuss strategic alternatives with the company, which includes possible sale of assets and restructuring, showed the regulatory filing.

In addition, Icahn also said that that he intends to take a seat in the Board.

Commenting over Icahn’s plans, Talisman’s spokeswoman Phoebe Buckland said in a statement, “We are committed to acting in the best interests of the Company and give due consideration to constructive recommendations for strategies or actions that have the potential to increase shareholder value.”

This is the second major purchase for Icahn in the energy sector. Earlier in 2012, Icahn was at the center of boardroom upheaval at Chesapeake Energy Corp. Intense pressure from investors, spearheaded Icahn, ultimately resulted in the ouster of Chesapeake’s very flamboyant co-founder, Aubrey McClendon.

Besides, Carl Icahn also successfully brought changes at Transoceanic, the world’s largest drilling contractor. Earlier in May, Transocean shareholders voted out the company’s Chairman Michael Talbert and backed a nominee proposed by Icahn.

 








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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.

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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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