Southwest Gas Holdings (SWX) to Review Unsolicited Tender Offer from Carl Icahn

POTENTIAL DEAL DETAILS

Southwest Gas Holdings, Inc. (SWX) confirmed that Icahn Enterprises LP has commenced an unsolicited tender offer to acquire any and all outstanding shares of Southwest Gas Holdings for $75.00 per share in cash.

Update(s):

November 09, 2021: Southwest Gas Holdings Inc. (SWX)  rejected a takeover attempt by billionaire Carl Icahn, saying his unsolicited tender offer undervalues the U.S. utility.

March 14, 2022: Billionaire investor Carl Icahn is increasing his offer for Southwest Gas Holdings Inc., (SWX) the latest step in his months-long campaign to take over the utility. Icahn’s IEP Utility Holdings LLC is offering $82.50 a share, up from the prior offer of $75, according to a statement.

March 28, 2022: Southwest Gas Holdings, Inc. (SWX) announced that its Board of Directors,  has unanimously determined that the revised tender offer from an affiliate of Carl Icahn to acquire any and all outstanding common shares of the Company for $82.50 per share in cash is inadequate, structurally coercive, highly conditional, undervalues the Company, and is not in the best interests of all of its stockholders.

April 18, 2022: Southwest Gas Holdings, Inc. (SWX) announced that as a result of the receipt of an indication of interest well in excess of Carl Icahn’s $82.50 per share offer, the Southwest Gas Board has authorized the review of a full range of strategic alternatives to maximize stockholder value.

May 5, 2022: Activist investor Carl Icahn is in talks to reach a truce with Southwest Gas Holdings Inc. (SWX) that could see the billionaire investor take as many as four seats on the board, according to people familiar with the matter.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.