In concessions to activist shareholder Carl Icahn, Houston-based independent Occidental Petroleum Corp. (Oxy) has named Magnolia Oil and Gas Corp. CEO Stephen Chazen as chairman and appointed three Icahn-picked directors to the board.
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The Occidental Petroleum Corp. (Oxy) board on Friday adopted a limited duration stockholders rights plan, known commonly as a “poison pill,” in an effort to dilute activist billionaire shareholder Carl Icahn’s growing stake in the Houston-based independent.
Billionaire investor Carl Icahn, who is seeking to usurp four directors at Occidental Petroleum Corp., is alleging the board has mismanaged the takeover of Anadarko Petroleum Corp.
Activist investor Carl Icahn, who holds an estimated $1.6 billion (5%) stake in Occidental Petroleum Corp. (Oxy), has filed a lawsuit over the proposed acquisition of Anadarko Petroleum Corp., which he called misguided and overpriced.
Calling the takeover of Anadarko Petroleum Corp. overpriced and misguided, activist investor Carl Icahn, who holds an estimated $1.6 billion (5%) stake in Occidental Petroleum Corp. (Oxy), is suing the company and threatening a fight for control of the board.
Oklahoma City-based SandRidge Energy Inc., dogged by Carl Icahn and facing financial pressures, has at least 26 confidentiality agreements with parties “actively pursuing” a potential transaction to buy the company outright or specific assets in the U.S. onshore.
Oklahoma City-based SandRidge Energy Inc. said it has 17 confidentiality agreements with potential bidders in hand for the company, but it also warned shareholders they were being misled by billionaire hedge fund activist Carl Icahn, who also bidding to control the company.
Permian Basin pure-play Energy Corp. is facing another battle for control as hedge fund Corvex Management, long critical of management and now holding two board seats, has teamed with activist investor Carl Icahn to get involved in a strategic review underway.
Onshore producer SandRidge Energy Inc., buffeted by bankruptcy, squelched expansion plans and unsolicited takeovers, said Monday it now welcomes input on which direction to take, including any by the largest shareholder, Carl Icahn.