, a purchase seen by the longtime activist investor as "hugely overpriced." Expensive financing, he and other stakeholders argued, could put the Houston-based oil giant at risk if crude prices fall.
The Occidental-Anadarko deal closed on Thursday in a transaction valued at $55 billion, including the assumption of Anadarko's debt. Anadarko shareholders are receiving $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock. As part an agreement struck with Occidental's management, Buffett receives 100,000 shares of cumulative perpetual preferred stock with a value of $100,000 per share with an annual dividend of 8%. Icahn scrutinized the arrangement, saying Buffett tricked CEO Vicki Hollub into a bad deal.said of the Buffett-Occidental accord in July
BOGUS! Carl_C_Icahn is blaming WeAreOxy for his bad timing and wrong stock pick. Occidental outperformed peers before Anadarko bid (which is why he should've bought $APC, not $OXY) Oxy outperformed since, BEATING $CXO or $EOG handily Carl ruined Freeport, now he returns!
This is what a billionaire investor hissy fit looks like.
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