Transocean (RIG) Discloses 1.56% Icahn Stake; May Invest Much More

January 14, 2013 7:06 AM EST
Pursuant to Article 20 of the Swiss Federal Act on Stock Exchanges and Securities Trading, which requires the disclosure of securities positions at various thresholds in excess of 3% of the voting rights of a listed company, Transocean Ltd. (NYSE: RIG) has reported with the SIX Swiss Exchange that it has been notified by Carl C. Icahn that Mr. Icahn, together with certain of his affiliates (together “Icahn”), holds shares of Transocean in an amount totaling 1.56% of the issued shares and has a synthetic long position in shares of Transocean (including options to acquire shares) representing 1.70% of the issued shares.

Additionally, pursuant to the Hart-Scott-Rodino Antitrust Improvements Act, Mr. Icahn has notified Transocean that Icahn is seeking approval to potentially acquire voting securities of Transocean in an amount exceeding the $682.1 million Hart-Scott-Rodino threshold, but less than that Act's threshold of 25% of the outstanding voting securities, depending upon various factors.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Hedge Funds, Insider Trades

Related Entities

Carl Icahn

Add Your Comment