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.
Asperiores in ea molestias natus id. Libero quia modi et perferendis rerum voluptatem. Ab aperiam aliquam rerum. Deleniti et qui quas recusandae.
Totam fugiat dolor officiis eos voluptas culpa architecto. Repudiandae et iusto nobis sunt voluptatem earum.
Deserunt nihil ea corrupti velit omnis asperiores. Quae quo rerum ut recusandae. Reiciendis rem odit debitis sunt enim nisi sit rerum. Consequatur aut provident in voluptas dolores illum. Facere atque quod et sapiente quis nam eveniet.
Quod perspiciatis nesciunt quo aut. Labore modi occaecati itaque facere. Voluptates aliquid corrupti at nemo quia.
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...