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Forbes Media President Steve Forbes discusses the trend for companies to move to Florida from the northeast – likely due to warmer weather and lower taxes.
AKRON, Ohio – Billionaire investor Carl Icahn has expressed interest in making a major purchase of voting shares from one of the nation’s largest electric utilities, which is currently the subject of investigated for his role in a corruption scandal in Ohio.
Akron-based FirstEnergy officials said in an annual investor appeal on Thursday that they received a letter from Icahn Capital LP on Tuesday indicating that the company had “the current good faith intention” to purchase more than 184 million dollars of voting shares but less than $ 920 million.
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FirstEnergy’s share price hit $ 35.11 mid-afternoon Thursday after opening at $ 31.59 and closing more than 7%.
| Teleprinter | security | Latest | Change | Change% |
|---|---|---|---|---|
| FE | FIRSTENERGY CORP. | 34.22 | +2.26 | + 7.07% |
The company does not know what Icahn’s intentions are or if he has bought any shares at this point, said John Taylor, chief financial officer of FirstEnergy.
Icahn has been left with a message requesting comment.
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FirstEnergy is the subject of investigations by the United States Department of Justice and the United States Securities and Exchange Commission. The company has been accused of secretly funding a $ 60million bribery scheme involving the former Ohio House president and others to get the passage of a $ 1 billion bailout for two Ohio nuclear power plants operated by a wholly-owned subsidiary.
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