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Health and Healthcare

Icahn Takes Larger Stake in Enzon (ENZN, IEP)

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By Douglas A. McIntyre Published
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In an SEC Filing, it was disclosed that Carl Icahn has taken a larger stake as an activist in Enzon Pharmaceuticals Inc. (NASDAQ: ENZN).  The stake is listed as 6.93% for just over 3.07 million shares. 

Icahn Capital was already a holder as of last year.  Icahn is suggesting disappointment over the price of the company and he has suggested strategic alternatives including a sale of the company.  The group has held talks with management and plans to seek further discussions.

Enzon shares were in negative territory for the day, but now shares are up almost 5% at $8.90.  The 52-week trading range is $6.31 to $10.36.

This is via entities such as High River Limited Partnership, Hopper Investments LLC, Barberry Corp., Icahn Partners Master Fund LP, Icahn Partners Master Fund II LP, Icahn Partners Master Fund III LP, Icahn Offshore LP, Icahn Partners LP, Icahn Onshore LP, Icahn Capital LP, IPH GP LLC, Icahn Enterprises Holdings L.P. (NYSE: IEP), Icahn Enterprises G.P. Inc., Beckton Corp., and Carl C. Icahn himself.

Jon C. Ogg
March 14, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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