Icahn in push to replace Oxy directors

Activist investor Carl Icahn is pushing to oust and replace four directors at Occidental Petroleum’s board over what he recently labeled a misguided “bet-the-company” acquisition of Anadarko by Oxy in which he owns shares.

The 83-year-old whose net worth has been estimated at around $18 billion, has previously slammed Oxy over its decision to pay a significant portion of the $38 billion acquisition fee in cash, with the aim to avoid the shareholder vote, and has also criticized what he believed was a bad $10 billion financing deal with Warren Buffett’s Berkshire Hathaway.He also said that Oxy should’ve put itself up for sale.

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