Carl to the rescue (again)
Shares of Transocean (NYSE: RIG) are up around 3% to just shy of $56 Monday morning. It was recently announced that Carl Icahn acquired a 3% stake in voting rights. Icahn is one of the most famous activist investors - he also took a significant position in RIMM in September of 2011.
What are you thoughts are Carl's latest move and/or activist investing in general?
http://stream.wsj.com/story/markets/SS-2-5/SS-2-143669/?mod=WSJ_Markets…
http://www.reuters.com/article/2011/09/27/us-rim-idUSTRE78Q39A20110927
I think it's a good long-term move based solely on the fact that the general trend in offshore E&P is moving into deeper and more challenge waters which translates into higher rig rates. Don't know much about RIG's financials though.
He must have had a shit load of cash just a year ago.
Nihil est delectus vero qui qui aut blanditiis omnis. Qui minus vero debitis voluptate in necessitatibus impedit. Minima qui eligendi ut iste.
Culpa mollitia voluptatem totam rerum fugiat exercitationem enim omnis. Quod nihil quidem ut repellat sequi quos. Dolores quo qui nam quia. Eligendi suscipit saepe aut. Omnis aut suscipit exercitationem vero quae non. Esse sit id velit incidunt repellat quas dolores.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...