By August 7, 2015 Read More →

Cheniere Energy: Carl Icahn takes 8.2% stake Texas LNG exporter

Icahn signals he wants changes in management of Cheniere Energy

Billionaire investor Carl Icahn is taking an 8.2-per cent stake in liquid natural gas company Cheniere Energy Inc., sending its shares higher in aftermarket trading.

Cheniere Energy

Carl Icahn.

Icahn disclosed ownership of 19.4 million shares of Cheniere, which owns a liquid natural gas terminal and pipeline in Louisiana.

Icahn’s funds say they want to start talks with the company about its business, financing of capital spending and executive compensation, and Icahn may seek representation on the board of directors.

Cheniere Energy did not immediately respond to a request for comment.

Shares of Cheniere Energy jumped $4.18, or 6.5 per cent, to $68.99 in aftermarket trading. The stock closed at $64.81 on Thursday.

The Houston-based company took a loss of $388.2 million, or $1.71 per share, over the first half of the year. Its revenue edged up 1 per cent to $136.4 million.

Icahn is known for tangling with the boards of companies like Apple Inc., Yahoo Inc., Hertz Global Holdings Inc. and eBay Inc. He also invested in ride-hailing app Lyft this year.

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