Activist investor Carl Icahn boosted his stake in Energen Corp (EGN.N), a filing showed on Tuesday, as he eyes a potential takeover of the oil and gas producer.
In May, hedge fund manager Keith Meister of Corvex Management and Icahn said they may try to buy the producer, which has operations in the prolific Permian Basin of Texas and New Mexico.
Icahn now owns 4.3 percent of the company’s shares, up from 3.8 percent last week, according to the filing.
Corvex, which is Energen’s second largest shareholder with an 8 percent stake, sold 2 million shares in the company to Icahn last month and granted him an option to buy another 2 million shares.
