Finance

Corvex, Icahn to mull bid for oil and gas producer Energen

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Activist hedge-Fund manager Keith Meister and billionaire investor Carl Icahn said, you can try to buy oil and gas producer Energen Corp (EGN.N), according to a regulatory filing on Monday.

Icahn, 82, encounter with the master, his 45-year-old Ex-right-hand, by purchasing a share of Energen and threw his weight behind the masters, the year-to push long campaign Energen keep management looking for alternatives.Monday-submission, master – Corvex Management, said Icahn bought 2 million shares and has an option to buy more. He put also your possible plan, say, you have to acquire “an interest in joining with other parties to the Issuer.”

Icahn is worth $18.3 billion euros, according to Forbes, putting him to threaten in a strong position, and follow through on the purchase of a company.

Two months ago, Birmingham, Alabama-based Energen, the operations in the Permian basin, the rail master New York-based hedge-to review the Fund with the consent of their company and two additional members of the Board of Directors.

In an interview with CNBC, Icahn, however, the question of why the process had not moved more quickly. “You can take a man to the moon faster,” he said.

Corvex, which invested about $4.4 billion, sold 2 million shares in the Energen to Icahn for $64.84 per share and granted him an option to purchase an additional 2 million shares for $67.37 per share. Icahn says to convert the shares at any time between now and November 18, 2018, the submission.

Corvex owns 8.5 million shares or around 8.7 percent of Energen. Together, Icahn, or master around 10 percent of the company’s control now.

News that involved Icahn helped push Energen shares nearly 6 percent higher to $71.33 on the New York Stock Exchange on Monday.

Since January, the share price of the company 19.13 per cent.

Master made its first Overture to Energen a year ago with a bin at the end of may 2017. In March Energen energy industry entrepreneur, Jonathan Cohen, and investor Vincent Intrieri invited a longtime employee of Icahn to its Board, and promised a review.

Masters worked for Icahn for seven years and has served on a number of boards of companies in which Icahn owned shares. In 2010, Meister Corvex was founded.