Author Topic: Former Shell president, three Icahn allies put forward in Oxy proxy war  (Read 599 times)

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Offline Elderberry

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Houston Chronicle by  Jordan Blum July 18, 2019

Activist investor Carl Icahn revealed Thursday the four people he wants to appoint to the board of Occidental Petroleum as part of his proxy war with the Houston oil and gas producer.

Icahn named former Shell Oil President John Hofmeister and three of Icahn's close business allies as his four selections in his bid to replace nearly half of the Oxy board, according to a new filing with the U.S. Securities and Exchange Commission.

Last month, Icahn, who has built a nearly 5 percent ownership stake in Oxy, started the process to call for a special meeting. He's waging the proxy war because of his opposition to Oxy's pending $38 billion acquisition to The Woodlands-based Anadarko Petroleum.

In a multi-step process, Icahn first needs the support of holders of 20 percent of Oxy's stock to set a record date to determine which shareholders can petition to hold a special meeting.

More: https://www.houstonchronicle.com/business/energy/article/Former-Shell-president-three-Icahn-allies-put-14106694.php

Offline truth_seeker

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Oxy was founded in California in 1920.

For just awhile in the late 60s my father worked for Oxy, in land-real estate, in Century City. His only corporate job, and he simply hated it and got out asap.




"God must love the common man, he made so many of them.�  Abe Lincoln

Offline IsailedawayfromFR

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Icahn leaves a lot of debris when he goes after a company.

Typically he extracts a patronage payment to back off.

Oxy chose not to pay.

Let's see who wins.
No punishment, in my opinion, is too great, for the man who can build his greatness upon his country's ruin~  George Washington