Carl Icahn Adds to Stake in Talisman Energy Inc. (USA) (TLM); Nominates Two Directors on the Board

Carl Icahn, the notorious investor and manager of Icahn Capital, has upped his stake in Talisman Energy Inc. (USA) (NYSE:TLM). In a newly amended filing, Mr. Icahn reported holding around 76.1 million shares of the company, versus 71.8 million disclosed earlier. The stake held by Icahn is activist by nature and amasses 7.37% of the company’s common stock. At the current stock price of Talisman, the value of Icahn’s holding amounts to $898.3 million.


At the same time, Icahn reported about entering into a Nomination and Standstill Agreement, as well as Confidentiality Agreement with the company. According to a statement on Talisman Energy Inc. (USA) (NYSE:TLM)’s web page, the a part of which involves the nomination of Samuel Merksamer and Jonathan Christodoro to the company’s Board of Directors.

“I strongly believe in the potential of Talisman Energy Inc. (USA) (NYSE:TLM) and I’m pleased to have reached this constructive outcome, […] We look forward to working with the Board of Directors and management with a common objective of creating sustainable value for all shareholders. Our record shows that our involvement on boards has created meaningful value for all shareholders. We hope and believe this will continue with Talisman,” the statement quoted Mr. Icahn as saying.

Mr. Icahn and his fund Icahn Capital, initiated a position in the company earlier in October. Since then, Mr. Icahn upped his position to close to 7%, and then the current amount reported today.

Mr. Icahn holds several significant positions in energy companies, one of which is Transocean LTD (NYSE:RIG) on the Board of which the billionaire will have two representatives next year.

In the recent couple of weeks, Carl Icahn made a couple of other interesting moves. He sold his entire position in Take-Two Interactive Software, Inc. (NASDAQ:TTWO) at the end of last month for a total of $203.5 million, which has been bought by the company. Also, the manager of Icahn Capital initiated a significant activist position in Hologic, Inc. (NASDAQ:HOLX), which amasses 12.63% of the company.

Disclosure: none