By Colin Kellaher

Shares of Southwest Gasoline Holdings Inc. slipped greater than 8% in premarket buying and selling on Wednesday after the corporate stated it has ended the sale course of for the guardian and its namesake unit after figuring out that the best choice to maximise shareholder worth is to proceed to execute its strategic plan on the natural-gas utility.

Nevertheless, the Las Vegas firm stated it is going to proceed to overview strategic options for its MountainWest Pipelines storage and pipeline-services unit and its Centuri Group unregulated utility companies platform.
Southwest launched the strategic overview in April after coming below stress from billionaire Carl Icahn, who had launched a hostile takeover bid and a proxy battle looking for management of the corporate’s board.
Southwest in Could reached a settlement that gave Mr. Icahn seats on the board and on the board committee tasked with the strategic overview.
The corporate on Wednesday stated it made its choice after rigorously evaluating all indications of curiosity and contemplating the utility unit’s robust long-term price base progress and favorable demographics.
Southwest stated it is going to proceed to evaluate a sale of MountainWest and a sale or spinoff of Centuri.
Southwest shares, which closed Tuesday at $87.32, have been just lately down 8.4% to $80 in premarket buying and selling.
Write to Colin Kellaher at colin.kellaher@wsj.com