Carl Icahn Raises Cheniere Stake to 11.43%

Billionaire investor Carl Icahn raised his stake in Cheniere Energy Inc. for the second time this month, this time to 11.43% from the 9.59% he disclosed two weeks ago.

Funds controlled by the activist investor now hold more than 27 million of Cheniere's shares outstanding, according to a filing with the Securities and Exchange Commission.

Mr. Icahn and a Cheniere spokesman weren't immediately available to comment.

Mr. Icahn, who is known for acquiring big stakes in companies and agitating for changes, reached an agreement with Cheniere to add two of his representatives to its board. Earlier in August, the Icahn-led group disclosed an 8.18% stake in Cheniere, saying, among other things, the company's stock was undervalued.

Cheniere, which is based in Houston, is preparing to export the first major amounts of liquefied natural gas from the U.S. by sea, with its first export plants expected to start up as early as year end.

Cheniere shares rose 1.6% to $48.25 in recent after-hours trading. Through Monday's close the stock has declined by nearly a third this year.

Write to Tess Stynes at tess.stynes@wsj.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

September 28, 2015 18:35 ET (22:35 GMT)

Cheniere Energy (AMEX:LNG)
Historical Stock Chart
From Mar 2024 to Apr 2024