Icahn Takes Larger Stake in Enzon (ENZN, IEP)

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In an SEC Filing, it was disclosed that Carl Icahn has taken a larger stake as an activist in Enzon Pharmaceuticals Inc. (NASDAQ: ENZN).  The stake is listed as 6.93% for just over 3.07 million shares. 

Icahn Capital was already a holder as of last year.  Icahn is suggesting disappointment over the price of the company and he has suggested strategic alternatives including a sale of the company.  The group has held talks with management and plans to seek further discussions.

Enzon shares were in negative territory for the day, but now shares are up almost 5% at $8.90.  The 52-week trading range is $6.31 to $10.36.

This is via entities such as High River Limited Partnership, Hopper Investments LLC, Barberry Corp., Icahn Partners Master Fund LP, Icahn Partners Master Fund II LP, Icahn Partners Master Fund III LP, Icahn Offshore LP, Icahn Partners LP, Icahn Onshore LP, Icahn Capital LP, IPH GP LLC, Icahn Enterprises Holdings L.P. (NYSE: IEP), Icahn Enterprises G.P. Inc., Beckton Corp., and Carl C. Icahn himself.

Jon C. Ogg
March 14, 2008