Billionaire Carl Icahn Rules Out Bidding for Southwest Gas

After Southwest Gas Holdings said it would evaluate a sale proposed by an unnamed potential buyer, billionaire Carl Icahn said he had no interest in making a bid for the utility, wanting only to replace the board of directors.

Reuters

Billionaire activist investor Carl Icahn said on April 21 he had no interest in making a bid for Southwest Gas Holdings Inc. days after the utility said it would evaluate a sale following interest from an unnamed potential buyer.

In an open letter to Southwest's shareholders, Icahn said his "only interest is to replace the incumbent board of directors."

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