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Icahn Sues Occidental And Threatens Fight For Board, Sale

by bloomberg.com posted 2weeks ago 16 views
Activist investor Carl Icahn launched a lawsuit against Occidental Petroleum Corp. with the goal of potentially seeking board seats and a sale of the company. The billionaire investor said in the suit filed Thursday in Delaware Chancery Court that he’s built a $1.6 billion stake in the company and is upset by its decision to acquire Anadarko Petroleum Corp. for $38 billion and the $10 billion financing deal it lined up from Warren Buffett’s Berkshire Hathaway Inc. without a shareholder vote. "The Anadarko deal is very much a bet-the-company deal from the point of view of the common stockholders.

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