Sign Up for FREE Daily Energy News
Canadian Flag CDN NEWS  |  US Flag US NEWS  | TIMELY. FOCUSED. RELEVANT. FREE
  • Stay Connected
  • linkedin
  • twitter
  • facebook
  • youtube2
BREAKING NEWS:

Copper Tip Energy Services
Hazloc Heaters
Hazloc Heaters
Copper Tip Energy


Icahn’s representatives on Occidental Petroleum to step down


English Español 简体中文 हिन्दी Português
These translations are done via Google Translate

March 7 (Reuters) – Two Carl Icahn representatives on the board of Occidental Petroleum Corp will resign as the activist investor has exited his entire position in the U.S. oil and gas producer.

Icahn, who once held a nearly 10% stake in Occidental, has been waging a bitter battle over the producer’s $38 billion buyout of Anadarko Petroleum in 2019, calling it a misplaced bet based on expectations of higher oil prices.

The billionaire investor, who had been cutting his position, in recent days sold the remainder of it.

GLJ

Icahn representatives Andrew Langham and Gary Hu will resign immediately, according to an Occidental filing on Monday.

GLJ

Houston-based Occidental last month boosted its dividend and authorized a $3 billion share repurchase program, saying it expects its debt to be below $25 billion by the first quarter.



Share This:



More News Articles


GET ENERGYNOW’S DAILY EMAIL FOR FREE