Icahn buys bigger stake in Cheniere Energy about 3 weeks after getting 2 spots on board

MarketsAssociated Press

Just weeks after Cheniere Energy added two affiliates of Carl Icahn to its board of directors, the billionaire investor disclosed that he's boosted his stake in the liquid natural gas company.

Icahn disclosed Monday that he's bought 3.3 million shares of Cheniere since Wednesday. That gives him 22.7 million shares of the company's stock, or a 9.6 percent stake.

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Icahn had disclosed an 8.2 percent stake in Cheniere in early August, and his funds said they want to start talks with the company about its business, financing of capital spending and executive compensation. A couple of weeks later, the Houston-based company said it reached an agreement with Icahn to add two new members to its board. Both of them are managing directors at Icahn Capital LP.

Cheniere Energy Inc. stock rose 2.6 percent to $54.14 on Monday. The stock gained another $1.54, or 2.8 percent, to $55.68 in aftermarket trading. The stock has fallen 16 percent since Icahn initially disclosed his holdings, however, as oil and gas prices have continued to plunge on deepening concerns about the growth of the global economy.