Member access

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

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 
HomeAll newsMost read newsBusiness Leaders Biography 
Carl Icahn
Country of residence : USA
Birthday : 02/16/1936
Linked companies : MTV - Icahn Enterprises LP - Biogen Idec Inc - JPMorgan Chase & Co.

Transocean board hits back at Icahn's strategy proposals

03/17/2013 | 10:12pm US/Eastern

(Reuters) - 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)

Latest news about Carl Icahn 
Icahn says Taj casino likely to close
2 days ago - ATLANTIC CITY, N.J. — Billionaire investor Carl Icahn says the struggling Trump Taj Mahal casino "will almost certainly close." The would-be purchaser of the casin
Bubble in high yield bonds a no-brainer says Carl Icahn
3 days ago - Icahn Enterprises chairman Carl Icahn, provides his perspective on the high yield or junk bond market. He won’t give away his actual trading position but he says the bubble is a no-brainer
Brett Icahn Has To Write 'Dad Was Right About Netflix' 200 Million Times
10/17 - Carl Icahn lost $200 million yesterday on Netflix, one of those newfangled technology stocks that his son is always pushing him to invest in. Now, Carl's not happy about, but since he already made a 457%
Taj has to close if union pact remains
10/14 - WILMINGTON, Del. — A federal bankruptcy court judge will issue what the owners of Atlantic City's Trump Taj Mahal Casino Resort consider a life-or-deat
Advertisement
Popular Business Leaders 
Paul Allen Mukesh Ambani Bernard Arnault Luc Besson Vincent Bolloré Martin Bouygues Richard Branson Warren Buffett Steve Case Benjamin De Rothschild Barry Diller John Fredriksen Bill Gates Philip Green Carl Icahn Steve Jobs Li Ka-shing Peter Lynch Maurice Lévy Lakshmi Mittal Rupert Murdoch Jean-charles Naouri Nelson Peltz Zong Qinghou Jim Rogers Johann Rupert Naguib Sawiris Carlos Slim George Soros Donald Trump
A-Z Business Leaders
Most Read News 
HTC unveils a suite of breakthrough imaging products
10/18 -    •  HTC Desire EYE is fully equipped for those who love to take great photos, videos and s...
Hong Kong Protests as Much About Dollars as Democracy
6 days ago - By Kathy Chu HONG KONG--A key reason why protesters in Hong Kong are demanding free elections for the first time i...
Greg Orman Liberal Millionaire Guest List
10/18 - TOPEKA, Kan., Oct. 17 -- Sen. Pat Roberts, R-Kan., the Republican nominee seeking re-election to the U.S. Senate, issued ...
Billionaire Bollore sees shares tank over ad takeover proposal
4 days ago - FRENCH billionaire Vincent Bollore saw shares in his listed group close down 11.5 per cent last night after unveiling pla...
Global YES vote on Detroit
10/18 - A day in a room with $73 billion Last week at the Detroit Homecoming Conference, I saw an unprecedented enthusiasm and in...
More news
Dynamic quotes  
ON
| OFF