Southwest Gas up 7% as it considers strategic alternatives, including the sale of Co.


(RTTNews) – Shares of Southwest Gas Holdings, Inc. (SWX) rose more than 7% on Monday morning after the natural gas service provider announced it was considering selling the company.

On March 28, the Southwest Gas Board determined that the $82.50 per share offered by billionaire investor Carl Icahn was insufficient and undervalued the company. And the company indicated today that there is interest, far greater than Carl Icahn’s offer.

“As a board of directors, we have determined that the best course of action is to explore a range of strategic alternatives, including a sale of the company, in order to maximize the value of the company on behalf of all of our shareholders. said Michael J. Melarkey, Chairman of the Board of Southwest Gas. “We plan to move forward quickly.”

The SWX hit a new high of $90.48 this morning.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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