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Carl Icahn may be Right about Occidental’s Anadarko Deal, But for a Different Reason


Activist investor Carl Icahn has complained that Occidental Petroleum Corp.’s deal for Anadarko Petroleum Corp. was too rich, pointing at interference from Berkshire Hathaway Inc.’s Warren Buffett and a competing bid from Chevron Corp. Icahn may be right about the deal, but academic research points to a different potential factor that Icahn has not identified. Occidental OXY, +3.02% and Anadarko APC, +1.11% share the same audit firms, and those auditors share an office...

Mentions: Mergers and Acquisitions IPO acquisition