Activist investor Carl Icahn aims board overhaul at Occidental Petroleum

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Activist investor Carl Icahn is looking to replace four members of Occidental Petroleum board. Icahn claims that the company’s $38 billion acquisition of Anadarko Petroleum Corp. is “hugely overpriced.” Icahn believes that a board overhaul is needed that the acquisition is beneficial for the company. Occidental acquired Anadarko following a bidding contest with Chevron, who in April had initially agreed to buy Anadarko for $33 billion.

Wall Street Journal, Christoper M Matthews, June 26th 2019