Carl Icahn targeting Talisman — and he’s tweeting about it.

Billionaire investor announces on Twitter that he now holds 6%, eyes board seat and asset sales

CALGARY • Carl Icahn appears set to shake up struggling Talisman Ener

gy Inc.

The billionaire investor and financier said via a Twitter message Monday that he holds nearly 61 million shares — about 6% — of Calgarybased Talisman and “may have conversations” with management about strategic alternatives and board seats.

Talisman shares jumped 10.9% on the New York Stock Exchange in after-hours trading on the news, closing at US$12.75.

Talisman has been paring its global portfolio under CEO Hal Kvisle and has laid off employees in a bid to cut debt and raise as much as $3-billion over the next 18 months.

Despite adding three new faces to its board in the past six months, the company has repeatedly denied it is under pressure from activist investors.

A Talisman spokeswoman on Monday said in response to Mr. Icahn’s disclosure: “We appreciate constructive input from shareholders and take their views seriously. We are committed to acting in the best interests of the company and give due consideration to constructive recommendations for strategies or actions.”

Talisman’s far-flung portfolio of global assets is in need of “radical realignment,” RBC analyst Greg Pardy said in a Sept. 24 note to clients.

Although Talisman under Mr. Kvisle had earlier ruled out a corporate split, Mr. Pardy said the company has recently warmed to the idea. Such a move would not be straightforward, however. “The tricky part of the equation reflects Talisman’s view that neither a North American nor an Asian entity could support its North Sea Operations individually. Accordingly, Talisman remains focused on cleaning up its North Sea portfolio,” Mr. Pardy wrote.

That includes selling its Norwegian North Sea interests as well as its u.K. North Sea operations.

Talisman has long been rumoured to be a take-out target, but acquisitions have cooled dramatically, with investors blaming new investment rules crafted by Ottawa after cNOOc Ltd.’s blockbuster bid for Nexen Inc.

In a u.S. regulatory filing, Mr. Icahn’s firm says Talisman’s assets are “undervalued” and that it aims to have conversations with management about “asset sales or potential corporate restructuring.”