Icahn Enterprises to acquire Southwest Gas for $7.7bn.

Icahn Enterprises, an American conglomerate, offered to acquire Southwest Gas, a utility company primarily engaged in the purchasing, distributing, and transporting of natural gas, for $7.7bn. Southwest Gas Holdings Board of Directors will carefully review and evaluate the unsolicited tender offer to determine the course of action that the board believes is in the best interest of Southwest Gas stockholders. On December 24, 2021, Icahn Enterprises extended the expiration date of its tender offer to purchase any and all of the issued and outstanding shares of the common stock of Southwest Gas Holdings. On March 24, 2022, Icahn Enterprises increases the price for Southwest Gas tender offer. The offer price of $82.5 per share represents a premium of 10% over the previous offer price of $75 per share and a premium of 27% over the closing price of $64.92 of the shares on October 13, 2021. On March 28, 2022, Southwest Gas' board of directors rejects Icahn Enterprises revised unsolicited tender offer.