October 28, 2013 / 10:02 PM / in 4 years

Activist shareholder Icahn ups stake in Talisman Energy

Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference, held at the New York Stock Exchange, June 27, 2007. REUTERS/Chip East

CALGARY, Alberta (Reuters) - Activist investor Carl Icahn increased his stake in struggling Canadian oil producer Talisman Energy Inc TLM.TO to 6.96 percent on Monday, according to a U.S. Securities and Exchange Commission filing.

Icahn disclosed his initial 5.97 percent stake in Talisman at the start of October, making the billionaire the second-largest shareholder. He has said he intends to talk with the company’s management to discuss strategic alternatives.

Talisman has been working through a restructuring process under new management for over a year and some analysts are skeptical about Icahn’s ability to force dramatic changes.

Talisman shares closed flat on the Toronto Stock Exchange at C$12.91 ($12.36).

Reporting by Nia Williams, editing by G Crosse

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below