Benzinga | Oct 27, 2021 07:44AM EDT

Southwest Gas Confirms Carl Icahn's Icahn Enterprises Commenced Unsolicited Offer To Buy Shares At $75/Share In Cash

Southwest Gas Holdings, Inc. (NYSE:SWX) today confirmed that Icahn Enterprises LP ("Icahn") has commenced an unsolicited tender offer to acquire any and all outstanding shares of Southwest Gas Holdings for $75.00 per share in cash.

Consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, the Southwest Gas Holdings Board of Directors will carefully review and evaluate the unsolicited tender offer to determine the course of action that the Board believes is in the best interest of Southwest Gas Holdings stockholders.

Southwest Gas Holdings intends to make the Board's position with respect to the tender offer available to stockholders within 10 business days through a Solicitation / Recommendation Statement on Schedule 14D-9, which will be filed with the U.S. Securities and Exchange Commission and published on Southwest Gas Holdings' website at www.swgas.com.

Southwest Gas Holdings stockholders are advised to take no action at this time pending the Board's review and evaluation of the unsolicited tender offer.

Lazard is serving as financial advisor to Southwest Gas Holdings and Morrison & Foerster LLP and Cravath, Swaine & Moore LLP are serving as legal advisors.