Investment guru derails the oil deal

In Corporate
May 31, 2019
I

The takeover of billions by oil company Anadarko by industry partner Occidental Petroleum is in danger of getting lost. Activist investor Carl Icahn, shareholder at Occidental, wants to blow up the deal in court.

As far as Icahn is concerned, Occidental should withdraw its $ 55 billion bid for Anadarko and instead offer itself for sale, reports the Financial Times based on the subpoena. The investment activist is concerned that if the oil price drops below $ 45 a barrel after the acquisition, Occidental will no longer be able to pay a dividend.

Through the lawsuit, Icahn wants to find out, among other things, what role Occidental played with super investor Warren Buffett, and whether the management of the company had even considered a sale.

By: Leah Kunze

Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to leah.kunze@economicinform.com

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