US Markets

Activist investor Carl Icahn sells nearly a third of his Occidental Petroleum stake

Activist investor Carl Ichan, who has been waging a bitter battle against Occidental Petroleum Corp's board over its $38 billion acquisition of Anadarko Petroleum, cut his holdings in the oil and gas producer by nearly a third, according to an open letter to shareholders he released Friday.

Nov 8 (Reuters) - Activist investor Carl Ichan, who has been waging a bitter battle against Occidental Petroleum Corp's OXY.N board over its $38 billion acquisition of Anadarko Petroleum, cut his holdings in the oil and gas producer by nearly a third, according to an open letter to shareholders he released Friday.

Icahn sold 10 million shares and now holds 23 million shares, valued around $900 million, he said. He had owned a $1.6 billion stake in Occidental as of May 30.

(Reporting by Jennifer Hiller, Editing by Franklin Paul)

((Jennifer.Hiller@thomsonreuters.com; +1 713 210 8538;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest US Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More