Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Business Leaders  >  All news

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 
HomeAll newsMost read newsBusiness Leaders Biography 
Birthday : 02/16/1936
Place of birth : New York (New York) - USA
Biography : Mr. Carl C. Icahn is Chairman at CVR Refining GP LLC, CVR Refining LP, CVR Energy, Inc., Tropicana E

Transocean board hits back at Icahn's strategy proposals

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/18/2013 | 04:12am CET

The board of Transocean Ltd hit back at billionaire Carl Icahn in response to the activist investor's demands for a larger dividend and directors charged with pursuing what the offshore driller called his "short-term strategy."

Icahn, who owns 5.6 percent of Transocean, has spent two months campaigning for a dividend of $4 per share. Earlier this month, Transocean recommended that shareholders approve a $2.24 per share dividend.

In the board's first formal response to Icahn's proposals, it said on Sunday his "highly flawed" agenda was focused on temporary returns at the expense of long-term value, and ignored the cyclical and capital-intensive nature of the industry.

The dividend proposal was in "direct conflict with Transocean's disciplined capital allocation strategy," it added.

Icahn also wants Transocean to replace its directors, including the chairman, and is proposing his own nominees.

Transocean's annual meeting is scheduled for May 17 in Switzerland.

(Reporting by Braden Reddall in San Francisco; Editing by Daniel Magnowski)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news about Carl Icahn 
01/03 CARL ICAHN : Icahn sweetens offer for Federal-Mogul for third time
2016DJCARL ICAHN : Tank Car Maker Controlled by Icahn Suing Regulators
2016 CARL ICAHN : Trump team promises transparency regarding Icahn's advisory role
2016DJCARL ICAHN : Top Company News of the Day
2016DJCARL ICAHN : Top Company News of the Day
2016DJCARL ICAHN : Top Company News of the Day
2016DJCARL ICAHN : Top Company News of the Day
2016DJCARL ICAHN : Top Financial Services News of the Day
2016DJCARL ICAHN : Top Company News of the Day
2016DJCARL ICAHN : Top Company News of the Day
2016DJCARL ICAHN : Top Company News of the Day
2016DJCARL ICAHN : Top Financial Services News of the Day
2016DJCARL ICAHN : Top Company News of the Day
2016DJCARL ICAHN : Carl Icahn to Sell American Railcar
2016 CARL ICAHN : Hertz to replace CEO, cut board size; Icahn backs moves
1  2  3  4  5  6  7  8  9  10Next

Advertisement
Most Read News 
01/18 DAVID HENRY : Citigroup CEO asks for investor patience on financial targets
01/22 CHARLES SCHWAB : Optimism among S&P 500 CEOs as Trump takes power
01/19DJWILBUR ROSS : Commerce Secretary Nominee Wilbur Ross Offers Preview of Trade Policy -- 4th Update
01/20 JAMIE DIMON : JPMorgan CEO Jamie Dimon gets $28 million pay package
01/18 WARREN BUFFETT : Gates charity to sell 60 million Berkshire shares, as Buffett urged
01/19 DAVID HENRY : Citigroup CEO asks for investor patience on financial targets
01/20 GEORGE SOROS : George Soros says Trump will fail and market's dream will end
More news

Popular Business Leaders 
Paul Achleitner William Ackman Alain Afflelou Vincent Bolloré Warren Buffett Jean-paul Clozel Gary Cohn Tim Cook Leonardo Del Vecchio Jamie Dimon Thorsten Dirks Patrick Drahi Klaus Engel Bill Gates Carlos Ghosn David Henry Jean-françois Hénin Carl Icahn Anshu Jain Jérôme Kerviel Isabelle Kocher Jack Ma John Mackey James Murdoch Elon Musk Peter Nicholas Xavier Niel Georges Plassat Patrick Pouyanné Sumner Redstone Alexandre Ricard Kasper Rorsted Wilbur Ross Johann Rupert Naguib Sawiris Charles Schwab Carlos Slim George Soros Rupert Stadler Bernard Tapie Ratan Tata Tidjane Thiam Peter Thiel François Villeroy De Galhau Thomas Wilson Martin Winterkorn Dieter Zetsche Mark Zuckerberg Ben Van Beurden
A-Z Business Leaders