Icahn bags $ 1. 7 M from Gas companies selling

Activist investor Carl Icahn has reportedly received a 1.7 million dollar profit in his game in the natural gas company southern Union when it was sold to rival energy transfer equity for 4.2 billion dollars.

Icahn bought over 186,000 shares of Houston-based gas firm earlier this year at 24 DOLLARS per share, according to a Wall Street Journalarticle.

The share price, which peaked at $ 33 at the end of Thursday's trading, after the sale was announced, which pushed the value of the Icahns game to 6.1 million USD.

Icahn running hedge fund Icahn Capital Management and ranked by S Magazine as one of the top 25 hedge fund capital managers in 2010 serve an estimated 900 million dollars.

Icahn could be reached for comment by HedgeFund.Net on the report.

Icahn not only from the hedge fund world which have profited from southern Union sales, however, the journal reported.

Greenwich, Conn.-based hedge fund Kensico Capital Management has a 5% stake in southern Union, which is now valued at over $ 200 million maturing after the sale.

Go to the Wall Street Journal article

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