Carl Icahn has picked his next target — Freeport-McMoRan.
Icahn and a group of other investors have snapped up a 8.46% stake in mining company Freeport-McMoRan, according to a joint filing.
It’s a joint filing with High River Limited Partnership, Hopper Investments LLC, Barberry Corp., Beckton Corp, and Icahn.
Shares of Freeport-McMoRan are ripping in the after-hours, up more than 18.9%.
The stock closed up $US.2.27, or 28.66%, to end at $US10.19.
The group of investors said in the report that they may seek a board seat, and had not had any discussions with the company’s management prior to the filing.
Earlier this month, Icahn disclosed a stake in Cheniere. This week, he got two board seats.
We’ll have more in a moment.
Here’s the five-day chart: