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).