Activist investor Carl Icahn is calling on the leadership of Occidental Petroleum Corp. to reveal whether they were approached by any potential buyers prior to agreeing to acquire Anadarko Petroleum Corp. for $37 billion.
“Why did they decide to embark on this ill-advised bet that has already destroyed over $30 billion in stockholder value; and if oil continues its decline, we believe will jeopardize the dividend, leaving stockholders to suffer even more?” Icahn wrote in the letter, a copy of which was seen by Bloomberg News.Icahn nominated a slate of directors in November tothe entire Occidental board ahead of its annual general meeting, which hasn’t been scheduled yet.
He said the company should have walked away if they feared they wouldn’t win a shareholder vote. Rival bidder Chevron Corp.did just that, he said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Lyft Forecasts Disappoint Investors Seeking Faster ProfitLyft Inc. quarterly results and guidance for 2020 disappointed investors who punished the ride-hailing company for not promising profits sooner. The shares dropped more than 5% in extended trading.
Source: dailymaverick - 🏆 3. / 84 Read more »
South Africa's competition watchdog approves $1.7 bln Pioneer-Pepsico merger - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.South Africa’s Competition Commission conditionally approved PepsiCo’s Inc $1.7 billion takeover of food and drinks producer Pioneer Food Group Ltd on Tuesday, saying it is unlikely to lessen competition in relevant markets.
Source: SABC News Online - 🏆 32. / 51 Read more »
Business Maverick: February 12 : Five Things You Need to Know to Start Your DayFed chairman Powell said he’s watching the coronavirus impact carefully, Mastercard won an approval to set up business in China and Lyft beat analysts estimates — but disappointed investors. Here are some of the things people in markets are talking about today.
Source: dailymaverick - 🏆 3. / 84 Read more »
CHRIS GILMOUR: Value investing is a lonely businessPatient followers of this approach must tough it out on their investment approach even in worsening bad times
Source: BDliveSA - 🏆 12. / 63 Read more »
Basic Education seeks harsher penalties for parents with non-school goers - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Most Read: The Basic Education Department says it wants to increase the penalty for parents and guardians from six months to six years imprisonment who do not ensure that their children are in school. Has the 6 months sentence ever been applied? If not why bother. Making the sentence longer has no impact, rather the fear of getting sentenced does. Show me just one parent langushing in jail on six months imprisonment, only then we can judge if there's a need to up it to six years.
Source: SABC News Online - 🏆 32. / 51 Read more »