Cheniere Energy CEO, Charif Souki was fired mid-December after Icahn bought a 14% stake in the liquefied natural gas company. As an activist investor, Icahn buys up failing companies and parts ways with the failing company’s management, with intentions to get the company moving forward on a track that will increase stock value. Icahn took issue with Chief Souki’s “aggressive expansion” plans. (Tully, 2015) With the collapse in the energy market, Icahn didn’t see expansion benefitting the shareholders.
In late October, Bridgestone and Pep Boys announced their merger. Icahn showed interest in Pep Boys in the summer and early fall, but was quiet up until this month. Maybe there was something he didn’t like about the merger with Bridgestone, or he realized better options may be available by him acquiring a controlling stake in Pep Boys. Icahn won the bid at $18.50 a share. Pep Boys stopped acquisition talks with Bridgestone on December 30, and Icahn enterprises paid the $39.5 million dollar termination fee on Pep Boys behalf. (Stynes, 2015)
Donald Trump indicated previously that he would like to bring Carl Icahn in as US Treasury Secretary in the event Trump becomes president. Icahn stated, “I’m not ever going to be secretary of anything in Washington.”(Gillespie, 2015) He has already found his niche as billionaire investor.
Gillespie, P. (2015, 11 03). Carl Icahn: "No way" I would be Donald Trump's Treasury Secretary. Retrieved 12 31, 2015, from money.cnn.com: http://money.cnn.com/2015/11/03/investing/carl-icahn-donald-trump-treasury-secretary/
Stynes, T. (2015, 12 30). Icahn Wins Pep Boys Bidding War. Retrieved 12 31, 2015, from The Wall Street Journal: http://www.wsj.com/articles/icahn-wins-pep-boys-bidding-war-1451487496
Tully, A. (2015, 12 20). Icahn Ousts Cheniere CEO For ‘Aggressive Expansion’ Plans. Retrieved 12 31, 2015, from OilPrice.com: http://oilprice.com/Energy/Natural-Gas/Icahn-Ousts-Cheniere-CEO-For-Aggressive-Expansion-Plans.html