clearn.png
Monday November 29th, 2021 12:09AM

Investor Icahn signals interest in buying FirstEnergy stock

By The Associated Press

AKRON, Ohio (AP) — Billionaire investor Carl Icahn has signaled an interest in making a large purchase of voting shares from one of the country's largest electric utilities, which is currently under investigation for its role in an Ohio bribery scandal.

Akron-based FirstEnergy officials announced Thursday during an annual investor call that it received a letter from Icahn Capital LP on Tuesday saying the company has a “present good faith intention” to buy more than $184 million in voting shares but less than $920 million.

FirstEnergy's stock price reached $35.11 in midafternoon trading Thursday after opening at $31.59.

The company does not know what Icahn's intentions are or whether he has purchased stock to this point, FirstEnergy Chief Financial Officer John Taylor said.

A message seeking comment was left with Icahn.

FirstEnergy is a target of investigations by the U.S. Department of Justice and the U.S. Securities and Exchange Commission. The company has been accused of secretly funding a $60 million bribery scheme involving the former Ohio House speaker and others to win passage of a $1 billion bailout for two Ohio nuclear power plants operated by a wholly owned subsidiary.

  • Associated Categories: U.S. News, Associated Press (AP), AP National News, Top U.S. News short headlines, AP Business, AP Business - Industries, AP Business - Utilities
© Copyright 2021 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
NASA rover streaks toward a landing on Mars
A NASA rover is hurtling toward a landing on Mars in the riskiest step yet in an epic quest to bring back rocks that could answer whether life ever existed on the red planet
2:53PM ( 12 minutes ago )
Texas power outages below 500,000 but water woes persists
Power was restored to more homes and businesses in Texas after a deadly blast of winter this week overwhelmed the electrical grid and left millions shivering in the cold
2:52PM ( 13 minutes ago )
"Mr. Kitty" goes virtually to Washington over GameStop saga
The social media movement that made a beloved icon of GameStop enthusiast Keith Gill continued to rally behind the YouTube personality known as Roaring Kitty as he testified to Congress on Thursday about his role in last month’s stock frenzy
2:46PM ( 20 minutes ago )
Associated Press (AP)
'Horrible': Witnesses recall massacre in Ethiopian holy city
Bodies with gunshot wounds lay in the streets for days in Ethiopia’s holiest city
2:13PM ( 53 minutes ago )
SC governor signs abortion ban; Planned Parenthood sues
South Carolina's governor has signed a bill banning most abortions into law
2:05PM ( 1 hour ago )
Cruz confirms his Mexican vacation after storm slammed Texas
Texas Sen. Ted Cruz has acknowledged that he had traveled to Mexico for a family vacation this week, leaving his home state as thousands of constituents struggled without power or safe drinking water after a powerful winter storm
1:45PM ( 1 hour ago )
AP National News
The Latest: Man disappeared under thin ice on Detroit River
A U.S. Coast Guard spokesman said a rescue is unlikely for a man who fell through ice on the Detroit River in Michigan
11:51AM ( 3 hours ago )
Experts warn against COVID-19 variants as states reopen
States are beginning to ease coronavirus restrictions, but health experts say we don't know enough yet about variants to roll back measures that could help slow their spread
11:50AM ( 3 hours ago )
Even without listening, US lives in Limbaugh’s media world
Rush Limbaugh was more than just a radio host
11:40AM ( 3 hours ago )
Top U.S. News short headlines
The Latest: Virus variant from South Africa in Nevada
Nevada health officials say a coronavirus variant first identified in South Africa has been found in the state
2:25PM ( 41 minutes ago )
Myanmar protests focus on junta's economic support
State railway workers in Myanmar are continuing to strike despite a police rampage the previous night targeting them in a sign of the military junta’s concern over growing civil disobedience by public workers protesting the coup
1:42PM ( 1 hour ago )
The Latest: Spain expects more flattening of virus curve
Spanish health officials expect the curve of the coronavirus contagion to continue flattening after the two-week incidence rate per 100,000 inhabitants dropped to 320 cases from its peak of 900 at the end of January
1:31PM ( 1 hour ago )
AP Business
The Latest: Officials in Italy cancel coronavirus conference
Officials in Italy have canceled a conference planned to commemorate the anniversary of the country's coronavirus outbreak
11:51AM ( 3 hours ago )
The Latest: Study suggests London infection rates down
A study from Imperial College London suggests coronavirus infection rates in London have gone down 80% in the past month as lockdown measures curb the spread of the virus
10:45AM ( 4 hours ago )
Texas outages below half-million but water crisis persists
Hundreds of thousands of people in Texas are waking up to a fourth day without power
10:01AM ( 5 hours ago )
AP Business - Industries
US needs to brace itself for more deadly storms, experts say
The deadly winter storms that knocked out power for millions in Texas and other states have exceeded the worst-case scenarios of many U.S. utilities
6:11AM ( 8 hours ago )
Police rampage targets striking railway workers in Myanmar
Demonstrators against Myanmar’s military takeover returned to the streets after a night of armed intimidation by security forces in the country’s second biggest city
3:03AM ( 12 hours ago )
California lawmakers propose ban on fracking by 2027
New legislation would ban all fracking in California by 2027, taking aim at the powerful oil and gas industry in the state that's been a leader in combating climate change
7:47PM ( 19 hours ago )
AP Business - Utilities
NASA rover streaks toward a landing on Mars
A NASA rover is hurtling toward a landing on Mars in the riskiest step yet in an epic quest to bring back rocks that could answer whether life ever existed on the red planet
2:53PM ( 12 minutes ago )
Texas power outages below 500,000 but water woes persists
Power was restored to more homes and businesses in Texas after a deadly blast of winter this week overwhelmed the electrical grid and left millions shivering in the cold
2:52PM ( 13 minutes ago )
"Mr. Kitty" goes virtually to Washington over GameStop saga
The social media movement that made a beloved icon of GameStop enthusiast Keith Gill continued to rally behind the YouTube personality known as Roaring Kitty as he testified to Congress on Thursday about his role in last month’s stock frenzy
2:46PM ( 20 minutes ago )
US reverts to targeted immigration enforcement under Biden
The Biden administration is giving new marching orders to the U.S. immigration enforcement agency
2:44PM ( 22 minutes ago )
Pelosi says bipartisan panel should investigate Capitol riot
House Speaker Nancy Pelosi says a commission to study the deadly attack at the Capitol must be “strongly bipartisan.”
2:36PM ( 30 minutes ago )