- Southwest Gas (NYSE:SWX) says in a published response letter to shareholder Carl Icahn's complaints about its $2B acquisition of Questar Pipeline from Dominion Energy (NYSE:D), saying the deal is priced fairly and would contribute to its earnings starting next year.
- "Questar Pipelines is a compelling, high-return suite of assets with unique strength and stability," the letter tells Icahn, and "contrary to one of your specific points, it meaningfully reduces earnings volatility, and increases strategic optionality and flexibility."
- Addressing other criticisms, Southwest Gas (SWX) says it has delivered shareholder returns in-line with or better than peers since the pre-COVID market peak, and its executive compensation is "well-aligned to support long-term shareholder value."
- Southwest Gas adopted a poison pill earlier this week designed to prevent Icahn from taking control of the company.
Southwest Gas pushes back against Icahn criticisms of Questar deal
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Southwest Gas Holdings, Inc. |