Activist shareholder Icahn ups stake in Talisman Energy

Mon Oct 28, 2013 5:57pm EDT
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CALGARY, Alberta Oct 28 (Reuters) - Activist investor Carl Icahn increased his stake in struggling Canadian oil producer Talisman Energy Inc 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.