Activist investor Carl Icahn has increased his stake in Occidental Petroleum Cor...
FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York February 11, 2014. REUTERS/Brendan McDermid/File Photo
Icahn, who held a roughly 2.5% stake in Occidental as of end-2019, has previously criticized its $38 billion deal for rival Anadarko Petroleum as a misplaced bet on oil prices rising, and has promised a proxy fight to win control of the company. The Houston-based company on Tuesday slashed its dividend and announced cost cutting measures to allay investor concerns over profitability, saying the cuts would help it finance expenses, with oil hovering near the $30-a-barrel range.
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