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, Chairman at CVR Refining LP, Chairman at CVR 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 CEST

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 
05/16 CARL ICAHN : Icahn takes new 19.8 million share stake in Conduent in first quarter
05/11DJCARL ICAHN : AIG Gets a CEO Who Can Stand Up to Icahn -- Heard on the Street
05/09 CARL ICAHN : U.S. Democratic senators seek probe into Icahn’s biofuel credit dealings
04/27 CARL ICAHN : Icahn's oil refiner reports plunge in biofuels bill in 1st quarter
04/13 CARL ICAHN : Inside edge - Trump advisor Icahn's big bet against biofuels credits
03/15DJCARL ICAHN : Icahn Was Key to AIG Shake-Up -- WSJ
03/14DJCARL ICAHN : Carl Icahn
03/08 CARL ICAHN : Watchdog presses U.S. lawmakers to probe Icahn's role with Trump
03/02DJCARL ICAHN : Top Company News of the Day
03/01 CARL ICAHN : White House denies Trump order on biofuels program pending, markets roiled
02/22DJCARL ICAHN : Top Company News of the Day
02/21 CARL ICAHN : Wsj
02/07 CARL ICAHN : Icahn to sell closed Trump Taj Mahal casino in Atlantic City
01/03 CARL ICAHN : Icahn sweetens offer for Federal-Mogul for third time
2016DJCARL ICAHN : Tank Car Maker Controlled by Icahn Suing Regulators
1  2  3  4  5  6  7  8  9  10Next

Advertisement
Most Read News 
05/22 JAMES HACKETT : Ford names Hackett as CEO to tackle car rivals, Silicon Valley
05/21 WARREN BUFFETT : Barron's
05/22DJGARY COHN : Top Global Markets News of the Day
05/22DJPETER NICHOLAS : Taxes, Budget Are Focus for Trump Despite Probes
05/23DJLESLIE MOONVES : Top Company News of the Day
05/23DJMARK FIELDS : Fields Got Caught in Crosshairs Of Trump -- WSJ
05/23DJPETER NICHOLAS : Trump's Budget Seeks Cuts to Taxes, Safety-Net Programs
More news

Popular Business Leaders 
William Ackman Bernard Arnault Mary Barra Jeff Bezos Lloyd Blankfein Yannick Bolloré Thomas Buess Warren Buffett Gary Cohn Michael Dell Ralph Dommermuth David Einhorn Klaus Engel Mark Fields Laurence Fink Carlos Ghosn Peter Hancock David Henry Carl Icahn Robert Iger Arnaud Lagardère Jack Ma Sergio Marchionne Marissa Mayer Leslie Moonves Oscar Munoz Rupert Murdoch Elon Musk Peter Nicholas Ferdinand Piëch Georges Plassat Hasso Plattner Wolfgang Porsche Giuseppe Recchi Wolfgang Reitzle Urs Rohner Kasper Rorsted Wilbur Ross Charles Schwab George Soros Friede Springer Rupert Stadler Bernard Tapie Johannes Teyssen Tidjane Thiam Axel Weber Thomas Wilson Dieter Zetsche Mark Zuckerberg
A-Z Business Leaders