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Activist investor Carl Icahn exits Occidental Petroleum after nearly three years -WSJ -Breaking


© Reuters. FILE PHOTO – Billionaire activist Carl Icahn speaks on the FOX Business Network’s Neil Cavuto in New York, February 11, 2014. REUTERS/Brendan McDermid

(Reuters) -Activist investor Carl Icahn exited a bet on Occidental Petroleum Corp (NYSE:), selling the last of what was once a roughly 10% stake in the oil-and-gas producer, the Wall Street Journal reported on Sunday, citing a letter he sent to Occidental’s board on Sunday.

Icahn who was reducing his position sold it in recent days. Additionally, two of the activists investors on Occidental’s board have resigned.

Icahn Enterprises representatives confirmed the WSJ story, but they did not give Reuters a copy due to confidentiality.

Since 2019, Icahn waged a bitter war with Occidental’s board about its $38 Billion acquisition of Anadarko Petroleum. (NYSE:). He called it a mistaken bet based upon higher oil prices.

Reuters did not receive Occidental Petroleum’s immediate response to our request.

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