Southwest gas board of directors unanimously rejects carl icahn's revised unsolicited tender offer

Determines offer is structurally coercive and not in the best interests of stockholders files schedule 14d-9 amendment with the sec recommending stockholders reject inadequate, coercive and highly conditional offer las vegas , march 28, 2022 /prnewswire/ -- southwest gas holdings, inc. (nyse: swx) (the "company") today announced that its board of directors, (the "board") following a thorough review with the assistance of its financial and legal advisors, has unanimously determined that the revised tender offer from an affiliate of carl icahn ("mr. icahn") to acquire any and all outstanding common shares of the company for $82.50 per share in cash (the "offer") is inadequate, structurally coercive, highly conditional, undervalues the company, and is not in the best interests of all of its stockholders.
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