BRIEFING Can Activist Icahn Kick-Start Talisman's Makeover?

摘要

Activist shareholder Carl Icahn has had rriixed results with his recent forays in the energy sector, but his latest target for turnaround, Canada's Talisman Energy, may present the biggest challenge. In announcing the acquisition of a 6% stake in Talisman on Oct 7, Icahn is effectively trying to jolt a company that is already in the midst of a makeover. A year ago, former Talisman Chief Executive John Manzoni was thrown under the bus for betting big on natural gas and replaced by Hal Kvisle, a former head of giant pipeline company TransCanada, which he turned around a decade earlier When it was in trouble. Kvisle still carries plenty of weight in Canadian boardrooms — and may not prove particularly welcoming to interlopers from south of the border. Then again, Icahn's entrance doesn't necessarily mean that massive changes are afoot at the already-remodeling Talisman — he may simply be trying to speed up the process, which could ultimately include the outright sale of the 260,000 barrels per day producer.