Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Carl Aiken says Warren Buffett has made Occidental Chief Executive Officer "Wipers"

Carl Aiken says Warren Buffett has made Occidental Chief Executive Officer "Wipers"

Billionaire Carl Ican and Warren Buffett

Getty Images (l) | CNBC (r)

Activist Investor Karl Icank believes Occidental Petroleum Chief Executive Vicki Holub has been played by Omarha himself, Warren Buffett, in an effort to buy Anadarko Petroleum.

"Buffett took her to the windshield wipers," Icak said in a letter to the shareholders on Monday. "The deal with Buffett was like taking the candy from the baby, and amazingly she even thanked him publicly for it!" "But you can not blame Warren if he is arrogant enough to negotiate a deal with Buffett on such a scale despite her . An undoubtedly limited experience in mergers and acquisitions, and the Board was misguided enough to seal it, then Warren's defense could be said to be almost his fiduciary duty to Berkshire Hathaway to accept it, added Ikan. buy Anadarko for $ 38 billion, a deal that includes $ 1

0 billion to fund Buffett's Berkshire Hathaway. As part of dea l, Buffett will receive 100,000 shares of the cumulative endless preferred stock worth $ 100,000 per share. This share would have an annual dividend of 8%. Berkshire will also receive an order to purchase up to 80 million shares of Occidental at $ 62.50 per share with a 15% off Friday closing at $ 73.38.

Icahn uncovers the deal after being declared criticizing a lack of shareholding in what he considers to be an expensive acquisition that could put the company at risk if oil prices drop. Since then, Icahn has begun a proxy fight in which he aims to replace four directors of Occidental. Icahn owns 4.4% of Occidental's shares.

Hollub said in a letter to shareholders on Monday that "none of Icahn's board members have any skills, experience or expertise that are complementary to or superior to our existing directors,": "Mr Ikan's own statements show , that he does not understand or support the strategic and financial advantages of the acquisition, and we believe his boarders will intervene in our ability to integrate Anadarco's valuable assets. "

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