(Reuters) – Southwest Gas Holdings Inc said on Monday it would evaluate selling itself, among other alternatives, after an unnamed potential buyer showed interest in acquiring the utility at a price \u201cwell in excess\u201d of Carl Icahn\u2019s $82.50 per share offer.<\/p>\n
Southwest Gas, which did not give any clear details on the interested party\u2019s offer, had rejected Icahn\u2019s bid as \u201cinadequate\u201d in March.<\/p>\n
Icahn has sought to gain control of the Southwest Gas board and replace its chief executive officer after the company adopted a shareholder rights plan in October to stop the investor\u2019s push to make the company abandon its $2 billion takeover of Questar Pipelines. Icahn holds just under 5% stake in Southwest.<\/p>\n
Southwest Gas on Monday said it has formed a committee of independent board directors to oversee the strategic review process. It has also invited Icahn to participate in the company\u2019s sale process.<\/p>\n