Skip to main content

If there are two things Carl Icahn does not like, it’s gas and energy companies wasting his money on things other than himself. On the other hand, both give him things to do other than play tennis and get his son’s hopes up. So, in that respect—and that respect only—we guess he’s grateful for Southwest Gas Holdings’ exceptionally stupid plan to spend nearly $2 billion on some more pipelines it can run badly rather than redirect that money into the pockets of Icahn and other shareholders.

“Even if you were not overpaying, this is no time for management with the many problems you have (including with regulators) to embark on a major new investment especially when you have shown an inability to manage and control what you already own,” the octogenarian investor wrote…. Mr. Icahn said with the proper changes, the company’s shares could appreciate 75%.

Carl Icahn Holds Significant Stake in Southwest Gas, Opposes Planned Deal [WSJ]

For more of the latest in litigation, regulation, deals and financial services trends, sign up for Finance Docket, a partnership between Breaking Media publications Above the Law and Dealbreaker.

Related

icahn-hulk

Carl Icahn Giving Cigna Management Benefit Of The Doubt Over ‘$60 Billion Folly’

Uncle Carl needs your help to save these people, who he loves and respects, from themselves and one of ‘the worst acquisitions in corporate history.’

icahn-hulk

Carl Icahn Sure Does Miss The Days When Presidents, SEC Chairs Were More Inclined To Listen To Carl Icahn

Unsurprisingly, Gary Gensler’s idea of sensible securities regulation does not align with Uncle Carl’s.

Icahn Miami

Carl Icahn To Retire

Or die. Whichever comes first.

icahn-hulk

Absolute Uselessness Of Company’s Management Dawns On Carl Icahn

All they had to do was try to spend $38 billion that Carl would like distributed to people like himself.

Icahn Miami

Coronavirus Keeps Killing Things Carl Icahn Doesn’t Like

First Occidental’s intransigence, now malls and a meddlesome SEC proposal.