Kerr-McGee Corp.'s stock got a boost from investors and financial analysts Tuesday after the producer said it had received notices from financier Carl C. Icahn and Icahn Partners Master Fund LP of their intention to acquire up to $1 billion total of the company's stock. Icahn turned a $196 million investment in the biopharmaceutical company into a profit of $418 million as of May 30. Icahn Partners is currently trying to raise $3 billion to launch a hedge fund. Icahn turned a $196 million investment in the biopharmaceutical company into a profit of $418 million as of May 30. Icahn Partners is currently trying to raise $3 billion to launch a hedge fund.

Source: Forbes June 14, 2024 09:51 UTC