FirstEnergy says activist investor Carl Icahn looking to buy stake

February 18, 2021 7:20 PM EST

FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York February 11, 2014. REUTERS/Brendan McDermid


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(Reuters) - Activist investor Carl Icahn is looking to buy a stake in FirstEnergy Corp, the energy distributor said in a regulatory filing on Thursday.

He intends to acquire a stake worth between $184 million and $920 million, the Ohio-based company said, citing a letter from Icahn dated Feb. 16. (https://bit.ly/2NlMrh9)

The power utility said it does not know if the billionaire investor or his affiliates have already bought shares or derivatives of the company.

Icahn Capital did not immediately respond to a Reuters request for comment.

Last year, FirstEnergy had received subpoenas in a $60 million bribery case stemming from a controversial bill to bail out the state's nuclear power plants.

Ohio House Speaker Larry Householder and four other men tied to state politics were arrested in the case.

Shares of FirstEnergy closed up more than 7% on Thursday.

(Reporting by Niket Nishant in Bengaluru; Editing by Arun Koyyur)



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