Cheniere Energy, Inc announced that it had reached a deal to buy back nearly $350 million shares from Carl Icahn and his affiliates for$130.52 per share.
- The deal, projected to be finalized on June 21, will be financed from Cheniere’s cash on hand and is also part of the company’s $1 billion share repurchase program.
- Jack Fusco, CEO of Cheniere, stated that the $350 million repurchase signals efficient execution of their long-term capital allocation plan and underscores conviction in Cheniere’s industry-leading LNG sector.
- Carl Icahn noted that their investment in Cheniere is an example of IEP’s activism efforts, indicating that they were instrumental in hiring CEO Jack Fusco.
Icahn further stated that the company has made more than $1.3 billion in realized and unrealized gains on Cheniere, and even after the sale today, they remain significant owners of Cheniere stock.
LNG up +1.06%, IEP up +1.45%, Pre-market trading
Source: Cheniere
