Transocean Shares Rise After Icahn Announces Stake
Transocean (RIG) shares rose 2% to 55.17 after the company announced Sunday that billionaire takeover investor Carl Icahn bought a 1.56% stake in Transocean and unveiled plans to expand his holdings. Icahn is seeking regulatory approval to acquire an additional $682.1 million worth of shares in the offshore driller, giving him a 5% stake in the company. Currently, Transocean's largest shareholder is Capital World Investors, which owns 5.12% of
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