NEW YORK Investor Carl
Icahn has taken a nearly 1.6-percent stake in Transocean Ltd.,
the worlds largest offshore drilling contractor, and is
looking to add to his position.
Icahn also holds synthetic long
positions in the company that would bring his stake to 1.7
percent and is seeking more than $682.1 million in shares, the
company said. This would represent at least 3.5 percent of the
companys shares outstanding at the Jan. 11 closing price
of $54.09 per share, according to AMMs
calculations, potentially bringing Icahns holdings to
more than 5 percent.
Only one other party, Los
Angeles-based Capital Group Cos. Inc., held more than 5 percent
in Transocean as of March 21, 2012, according to the
companys 2011 annual report.
The Zug, Switzerland-based
company recently agreed to pay $1.4 billion in a settlement
with the U.S. Justice Department to resolve claims resulting
from a 2010 accident at the Deepwater Horizon drill rig in the
Gulf of Mexico.
Icahn recently launched a failed attempt to merge St.
Charles, Mo.-based American Railcar Industries Inc., which he
controls, with Lake Oswego, Ore.-based Greenbrier Cos. (
amm.com, Dec. 28).