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