Southwest Gas

Joele Frank, Wilkinson Brimmer Katcher represents Southwest Gas Holdings as the Las Vegas-based company seeks to fend off a takeover bid by corporate raider Carl Icahn.

The billionaire investor opposes Southwest’s proposed $2B acquisition of Questar Pipeline Co. from Dominion Energy.

His Icahn Enterprises LP. has offered to buy Southwest for $75 per share and threatened a proxy fight at the 2022 annual meeting.

Southwest on Nov. 15 rejected Icahn’s “unsolicited, inadequate, structurally coercive, highly conditional and illusory tender offer.”

It promised to review Icahn’s slate of board nominees and announce the date of the annual meeting in due course.

Southwest, which serves Arizona, California and Nevada, generated $3.5B in revenues and $234M in net income for the year ended Sept. 30.

JFWBK’s Dan Katcher and Tim Lynch handle Southwest Gas.