Friday, March 14, 2008

Carl Icahn Boosts Stake in Enzon Pharm (ENZN), Wants Co To Consider a Sale

In a 13D filing on Enzon Pharmaceuticals (Nasdaq: ENZN), Carl C. Icahn discloses a 6.93% stake (3,072,103 shares) in the company up from the 1,760,001 share stake held at the quarter ended 12/31/07. Icahn wants the company consider a sale.

From the filing, "The Reporting Persons have had conversations with members of the Issuer’s management during which the Reporting Persons expressed their concern with the current Share price. In addition, during these conversations, the Reporting Persons indicated that management should conduct a comprehensive review of strategic transactions that could enhance shareholder value, including a spinoff or other monetization of certain assets, such as royalty streams and products with limited market potential; or a sale of the entire company."

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Blogger said...

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7:08 AM  

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