Welcome to our dedicated page for Southwest Gas Ho news (Ticker: SWX), a resource for investors and traders seeking the latest updates and insights on Southwest Gas Ho stock.
Southwest Gas Holdings, Inc. reports developments for a fully regulated natural gas business conducted through its primary operating subsidiary, Southwest Gas Corporation. The company purchases, distributes, and transports natural gas for customers across Arizona, Nevada, and California, with news focused on utility operating results, rate-base growth, regulatory proceedings, and capital planning.
Recurring updates also cover common stock dividends, earnings guidance, credit and financing metrics, Great Basin Gas Transmission Company expansion planning, and board or executive succession matters. Company news reflects Southwest Gas Holdings’ transition to a pure-play regulated natural gas utility following the completed separation from Centuri.
Southwest Gas Holdings (NYSE: SWX) announced it has received an indication of interest surpassing Carl Icahn's $82.50 per share offer, prompting the Board to explore strategic alternatives to enhance stockholder value. This includes potential sales of the Company or its business units, as well as a spin-off of Centuri. A committee of independent directors is overseeing the review, with Icahn invited to participate. The Board criticized Icahn's offer as inadequate, stating it does not serve the best interests of shareholders.
Cohen & Steers Capital Management has expressed support for the Icahn Group's initiative to nominate ten candidates for the board of directors at Southwest Gas Holdings (SWX). As an investor in SWX, Cohen & Steers plans to vote in favor of these nominees during the upcoming annual meeting, indicating a strategic alignment with the Icahn Group's vision for the company's governance. This move could potentially reshape the board's dynamics and influence future business strategies.
Southwest Gas Holdings, Inc. (SWX) is urging stockholders to vote "FOR ALL" of its director nominees on the WHITE proxy card ahead of the Annual Meeting on May 12, 2022. The Board argues that their strategy focuses on long-term value creation, particularly through the recent acquisition of MountainWest, which is expected to enhance earnings significantly in 2022. The acquisition is framed as a unique and strategically valuable asset. The letter counters claims from Carl Icahn, who proposes to acquire shares at $82.50, suggesting that the company’s true value exceeds this offer.
Southwest Gas Holdings, Inc. (NYSE: SWX) announced that the Delaware Court of Chancery granted summary judgment in favor of the Company, rejecting Carl Icahn's proposal for a Special Meeting related to director elections. The court deemed the proposal unlawful and inconsistent with the Company’s organizational documents. As a result, the Annual Meeting scheduled for May 12, 2022, will be the official venue for stockholder elections. This legal victory is positioned as a significant step for corporate governance and shareholder rights.
Southwest Gas Holdings (NYSE: SWX) responded to an open letter from Carl Icahn, disputing his claims about the company's recent equity offering. The company raised approximately $400 million through a public offering at $74 per share, aimed at funding the MountainWest acquisition. Southwest Gas clarified that the equity offering was completed with full knowledge of voting restrictions due to a record date. It also highlighted that Icahn's allegations concerning the financing process were misleading and legally flawed. The board emphasized its commitment to enhancing shareholder value.
Southwest Gas Holdings, Inc. (NYSE: SWX) has officially rebranded its Dominion Energy Questar Pipeline subsidiaries as MountainWest Pipelines, effective April 1, 2022. This includes renaming subsidiaries to reflect the MountainWest identity. The rebranding signifies a commitment to delivering essential natural gas services across Utah, Wyoming, and Colorado, with over 2,000 miles of FERC-regulated pipelines. This strategic move aims to underscore the company's regional pride and commitment to clean energy and reliability, with a planned physical transition to the new brand over several months.
Southwest Gas emphasizes the importance of safety in digging projects, urging homeowners to call 811 before beginning any digging to mark underground utilities. With April marking the start of the dig season and recognized as Safe Digging Month, the company highlights that 32% of pipeline damages in its service areas in 2021 resulted from not calling 811. The national cost of damages due to underground utility strikes exceeds $30 billion. Residents should report any suspected pipeline damage immediately.
Southwest Gas Holdings, Inc. (NYSE: SWX) has announced a public offering of 5,500,000 shares of common stock at $74.00 per share, targeting net proceeds of approximately $392.5 million. The offering is set to close on March 31, 2022, and underwriters have a 30-day option to purchase an additional 825,000 shares. Proceeds will primarily be used to repay borrowings related to the acquisition of Questar Pipelines. J.P. Morgan and BofA Securities lead the offering, with other firms acting as co-managers.
Southwest Gas Holdings, Inc. (NYSE: SWX) announced a public offering of $400 million in common stock, with a potential $60 million additional option for underwriters. Proceeds will be utilized to repay borrowings related to the acquisition of Questar Pipelines. The offering is managed by J.P. Morgan and BofA Securities, with a prospectus available via the SEC. This offering follows a shelf registration statement filed on December 2, 2020.
Southwest Gas Holdings, Inc. (NYSE: SWX) is urging stockholders to vote for its board nominees in light of Carl Icahn's attempts to gain control without providing a fair premium. The company emphasizes the value unlocked by the upcoming spin-off of Centuri, which has nearly doubled its revenue in the past four years. Following the spin-off, Southwest Gas will operate as a fully regulated natural gas business, maintaining its dividend and enhancing growth prospects. The board asserts that Mr. Icahn's $82.50 tender offer is inadequate, with a potential value for SWX estimated between $110 and $150 per share.