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Activist investor Icahn raises stake in oil producer Energen

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Activist investor Carl Icahn boosted his stake in Energen, a filing showed on Tuesday, as he eyes a potential takeover of the oil and gas producer.

[BENGALURU] Activist investor Carl Icahn boosted his stake in Energen, a filing showed on Tuesday, as he eyes a potential takeover of the oil and gas producer.

In May, hedge fund manager Keith Meister of Corvex Management and Icahn said they may try to buy the producer, which has operations in the prolific Permian Basin of Texas and New Mexico.

Icahn now owns 4.3 per cent of the company's shares, up from 3.8 per cent last week, according to the filing.

Corvex, which is Energen's second largest shareholder with an 8 per cent stake, sold 2 million shares in the company to Icahn last month and granted him an option to buy another 2 million shares.

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