Transocean says Icahn acquired 1.56 percent stake, seeks more
NEW YORK (Reuters) - Transocean Ltd (RIG.N) has disclosed that billionaire activist investor Carl Icahn has acquired a 1.56 percent stake in the offshore rig contractor and is looking to increase that holding.
Icahn is seeking regulatory approval to acquire shares worth more than $682.1 million, according to a statement on Transocean's Web site.
If he gets approval, Icahn would become one of Transocean's largest shareholders with just over 5 percent of the company, based on its closing stock price of $54.09 on January 11.
Transocean's biggest shareholder is Capital World Investors, a division The Capital Group Companies Inc, which owned 5.12 percent as of October 15, according to Thomson Reuters (TRI.N) data.
Icahn's move comes less than two weeks after Transocean agreed to pay $1.4 billion to settle U.S. government charges over BP Plc's (BP.L) massive Gulf of Mexico oil spill in 2012 . Transocean employed nine of the 11 workers killed in the accident.
(Reporting By Jessica Toonkel; Editing by Paul Tait and Stephen Coates)
NEW YORK - Stocks posted their largest drop in a month on Wednesday as traders locked in recent gains after a provisional budget deal out of Washington removed one of the near-term reasons for the Fed to keep up its current pace of economic stimulus.
WASHINGTON - U.S. small business sentiment bounced back from a seven-month low in November, with owners setting their sights on creating more jobs and expanding operations.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.