Offshore drilling contractor Transocean Ltd. revealed Sunday in a regulatory filing that billionaire activist investor Carl Icahn and certain of his affiliates hold a minority stake in the company. The disclosure was made to the SIX Swiss Exchange.
The company also said Icahn was seeking to acquire additional stake in the company that could make him the largest shareholder of the company.
Switzerland-based Transocean said Icahn is holding its shares totaling 1.56 percent of the issued shares and has a synthetic long position in shares of Transocean, including options to acquire shares, representing 1.70 percent of the issued shares.
This stake ownership was revealed by Transocean in accordance with Article 20 of the Swiss Federal Act on Stock Exchanges and Securities Trading, which requires the disclosure of securities positions at various thresholds in excess of 3 percent of the voting rights of a listed company.
Further, Transocean also revealed that Icahn has notified it that he is seeking approval to potentially acquire voting securities of Transocean in an amount exceeding the $682.1 million Hart-Scott-Rodino threshold.
However, the proposed acquisition will be less than the Act’s threshold of 25 percent of the outstanding voting securities, depending upon various factors.
RIG closed Friday’s regular trading session at $54.09, up $0.10 or 0.19% on a volume of 4.24 million shares.
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by RTT Staff Writer
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