Corporate Law News

Icahn Slams Occidental, Says Buffett Took CEO to ‘Cleaners’ (3)

July 22, 2019, 1:19 PMUpdated: July 22, 2019, 7:00 PM

Occidental Petroleum Corp.’s leaders hastily put together its $38 billion deal for Anadarko Petroleum Corp. in a job-preserving bid to stave off a takeover itself, according to activist investor Carl Icahn.

Occidental Chief Executive Officer Vicki Hollub and Chairman Eugene Batchelder appear to have negotiated the “extremely risky” transaction because they were worried their oil and gas explorer was in the crosshairs of a potential buyer, Icahn said in a letter that will be sent to Occidental shareholders July 22.

“I do believe that Hollub and Batchelder know what’s good for them and their personal agendas but do not particularly...

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