Carl Icahn Is Right to Be Furious About Warren Buffett’s Sweet Occidental Petroleum Deal
Carl Icahn is seeing red. In a letter Monday blasting Occidental Petroleum ’s management and board, Icahn, the billionaire activist investor and Occidental shareholder, asserted that Warren Buffett took Occidental CEO Vicki Hollub “to the cleaners” when Occidental (ticker: OXY) agreed to issue $10 billion of preferred stock to Berkshire Hathaway (BRK.A) in late April. That preferred carries an 8% dividend yield, and Berkshire also got valuable warrants on Occidental stock...
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