Southwest Gas Ho Stock Price, News & Analysis

Southwest Gas Holdings (NYSE: SWX) is urging stockholders to vote the WHITE proxy card to support its board in exploring strategic alternatives to maximize shareholder value. The board rejected Carl Icahn's $82.50 per share tender offer, stating it was inadequate. They are reviewing various options, including a potential sale of the company or its business units. Analysts are optimistic about the strategic review, with expectations of significant interest in the company. The Annual Meeting is set for May 12, 2022.

Southwest Gas Holdings, Inc. (NYSE: SWX) has acknowledged an open letter from shareholder Carl Icahn, urging his participation in exploring strategic alternatives to maximize shareholder value. The company received indications of interest exceeding Icahn's offer of $82.50 per share, prompting the Southwest Gas Board to review various strategic options. Lazard is engaged as a financial advisor, while Morrison & Foerster LLP and Cravath, Swaine & Moore LLP provide legal counsel. The Company emphasizes its commitment to maximizing stockholder value amidst ongoing discussions.

Southwest Gas Holdings, Inc. (NYSE: SWX) has addressed an open letter from Carl Icahn dated April 19, 2022. The company is focused on maximizing shareholder value through a strategic alternatives review, spurred by interest exceeding Icahn's offer of $82.50 per share. The board has authorized this review and welcomed Icahn's participation. Financial advisory is provided by Lazard, with legal counsel from Morrison & Foerster LLP and Cravath, Swaine & Moore LLP. The Annual Meeting is set for May 12, 2022, where more details will be shared with stockholders.

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.