Icahn Acquires 5.1% of Southland Corp.: A...
From Times Staff and Wire Reports
Icahn Acquires 5.1% of Southland Corp.: A group of investment firms headed by Carl C. Icahn disclosed that it has acquired a 5.1% stake in Southland Corp., operators of the 7-Eleven convenience store chain. Icahn said that as of Wednesday he controlled 20.9 million shares of Southland stock as a result of the Dallas-based corporation’s reorganization. A federal bankruptcy judge confirmed a reorganization plan last month, clearing the way for a $430-million takeover by two Japanese firms.
