Hedge Funds Carl Icahn

  • March 13- Occidental Petroleum said on Friday it will move to stop investors from amassing more than a 15% stake in a move aimed at activist investor Carl Icahn, who has been buying up shares and stepping up criticism of the oil producer's $38 billion purchase of Anadarko Petroleum last year. Occidental's dividend cut was its first in 19 years, and the company's...

  • *CARL ICAHN SAYS STOCKS MAY HAVE A LONGER WAY TO GO DOWN- CNBC INTERVIEW. *CARL ICAHN SAYS BUYING SOME STOCKS AT THESE LEVELS- CNBC INTERVIEW. *CARL ICAHN SAYS TIME FOR OXY CEO AND BOARD TO BE HELD ACCOUNTABLE- CNBC INTERVIEW.

  • March 13- Occidental Petroleum Corp said on Friday it will implement a "poison pill" that aims to stop investors from amassing more than 15% in the oil producer, a day after activist investor Carl Icahn disclosed a nearly 10% stake. Icahn bought about 88.6 million shares for $2.21 billion, raising his stake in Occidental to nearly 10% from 2.53% at the end of last...

  • March 13- Occidental Petroleum Corp said on Friday it would adopt a "poison pill", a day after billionaire investor Carl Icahn raised his stake in the oil producer to nearly 10% and once again pushed for an overhaul of its board. The company said it will issue one right for each share outstanding at the close of March 23 and that right will be exercisable if a person or...

  • March 11- Activist investor Carl Icahn has increased his stake in Occidental Petroleum Corp to almost 10%, scaling up his fight to take control of the oil producer, the Wall Street Journal reported https://www.wsj.com/articles/carl-icahn-boosts-occidental-stake-to-almost-10-as- s h a r e s- p l u m m e t- 1 1 5 8 3 9 6 9 0 5 0? Icahn, who held a roughly 2.5% stake in...

  • Feb 28- After already slashing spending on new projects by 40%, Occidental Petroleum Corp is ready to cut deeper this year if oil markets continue to be roiled by global coronavirus fears, Chief Executive Vicki Hollub said on Friday. Occidental plans to spend between $5.2 billion and $5.4 billion this year. If oil prices remain in the mid-to-high $40 a barrel...

  • Xerox recently raised its offer earlier this month by $2 to $24 per share, following several rejections of its previous buyout offers by the PC maker. HP shares closed up 0.9% at $22.64 on Thursday and were flat in extended trading. "The value of a year-long poison pill is to buy HP time to explore other offers," said Gene Munster, managing partner at Loup Ventures.

  • Feb 16- U.S. printer maker Xerox Holdings Corp is hosting a dinner for HP Inc shareholders this week as it seeks investor support to overcome the personal computer maker's resistance to its $35 billion takeover bid, according to people familiar with the matter. The charm offensive comes after Xerox raised its cash-and-stock bid for HP last week by $2 to $24 per...

  • Feb 10- Xerox Holdings Corp raised its offer to buy HP Inc to $24 per share from $22 per share on Monday, following several rejections of its previous buyout offer by the PC maker. The latest offer comprises $18.40 in cash and 0.149 Xerox shares for each HP share, valuing the company at about $35 billion. In December, activist investor Carl Icahn, who has a 4.2% stake in...

  • Jan 28- Xerox Holdings Corp on Tuesday posted a better-than-expected quarterly profit as it kept a tight lid on costs and said it plans to follow through with its $33 billion bid to buy rival HP Inc.. Xerox, which has been facing a slowdown in demand as businesses cut down on printing their paperwork, has laid out a three-year cost-cutting plan under Chief...

  • Jan 23- Xerox Holdings Corp said on Thursday it plans to nominate 11 independent candidates to HP Inc's board, seeking to take control of the personal computer maker after several rejections of its $33.5 billion buyout offer. "HP shareholders have told us they believe our acquisition proposal will bring tremendous value, which is why we lined up $24 billion in...

  • Jan 23- Xerox Holdings Corp said on Thursday it plans to nominate 11 independent candidates to HP Inc's board, seeking to take control of the personal computer maker after several rejections of its $33.5 billion buyout offer. "HP shareholders have told us they believe our acquisition proposal will bring tremendous value, which is why we lined up $24 billion in...

  • Jan 23- Xerox Holdings Corp said on Thursday it plans to nominate 11 independent candidates to HP Inc's board, setting the stage for a proxy fight after the personal computer maker rebuffed its $33.5 billion takeover offer. The candidates include Kim Fennebresque, former CEO of Cowen Group, and Jacob Katz, former chairman of Grant Thornton.

  • Jan 21- Xerox Holdings Corp is preparing to nominate as many as 11 directors to HP Inc's board, the Wall Street Journal reported on Tuesday, as the company seeks to push its $33.5 billion takeover offer for the personal computer maker. In November last year, Xerox made the $33.5 billion cash-and-stock offer to HP, a company more than three times its size.

  • HOUSTON, Jan 8- Occidental Petroleum Corp said on Wednesday it would begin dismissing workers in a new cost-cutting move following its $38 billion acquisition of Anadarko Petroleum. The company has already "significantly" cut staff through a voluntary program, spokeswoman Melissa Schoeb said in an email. It reported a third-quarter net loss of $912 million...

  • HOUSTON, Jan 8- Occidental Petroleum Corp has reduced its workforce "significantly" following the acquisition last year of rival Anadarko Petroleum, the company said on Wednesday. The company has started cutting jobs after it trimmed staff through a voluntary program, spokeswoman Melissa Schoeb said in an email to Reuters, without providing figures.

  • Jan 8- HP Inc said on Wednesday that Xerox Holdings Corp securing financing for its $33.5 billion takeover offer for the personal computer maker is not a basis for a discussion and reiterated that the proposal still undervalues the company. Xerox had offered HP shareholders $22 per share, involving $17 in cash and 0.137 Xerox share for each HP share, according to...

  • Jan 6- Occidental Petroleum Corp said on Monday it would cut its majority stake in pipeline operator Western Midstream Partners LP to less than 50% in 2020, to reduce its debt that grew significantly with the Anadarko Petroleum Corp deal. Occidental's shares rose about 4% on the news, having lost over 30% in value since the $38- billion offer for Anadarko was...

  • Jan 6- Xerox Holdings Corp said on Monday it has secured $24 billion in financing for its $33.5 billion takeover offer for HP Inc, a deal that the personal computer maker is opposing. Xerox has engaged in "constructive dialogue" with many of HP's largest shareholders, the company's chief executive officer, John Visentin, said in a letter addressed to HP's board on...

  • Carl Icahn ratcheted up his fight with Occidental Petroleum over its pending purchase of rival Anadarko Petroleum by calling for a special shareholder meeting where he hopes to win board seats.