Activist Investor Icahn on Occidental's Anadarko Deal

The transcript discusses the controversial acquisition of Anadarko, highlighting concerns over the lack of a shareholder vote, the terms of financing with Warren Buffett, and the high acquisition price. Criticism is directed at the corporate governance practices of the acquiring company, emphasizing the need for board accountability and strategic foresight. The discussion also explores potential outcomes, historical comparisons, and future implications, advocating for a more reasoned approach to corporate decision-making.

What is Carl's primary objection to the Anadarko acquisition?

• The involvement of Chevron

• The terms of financing with Warren Buffett

• The high price of the transaction

• The lack of a shareholder vote

What does Carl criticize about the company's management?

• Their refusal to engage with shareholders

• Their focus on short-term profits

• Their decision to partner with Chevron

• Their lack of experience in M&A

What does Carl suggest about the board's decision-making process?

• It is focused on long-term growth

• It is driven by shareholder interests

• It lacks accountability

• It is highly transparent

What is Carl's view on the current board's handling of the acquisition?

• They have managed it well

• They have effectively communicated with stakeholders

• They have shown a lack of experience

• They have prioritized shareholder interests

Why does Carl believe new board members are necessary?

• To increase the company's market share

• To provide oversight and prevent risky deals

• To improve relations with Chevron

• To reduce operational costs

What does Carl imply about the future risks of the acquisition?

• It will guarantee increased profits

• It could lead to further risky deals

• It will strengthen the company's market position

• It will improve shareholder relations

How does Carl suggest value could be recovered for shareholders?

• By selling off some of Anadarko's assets

• By increasing dividends

• By cutting operational costs

• By merging with Chevron

What past success does Carl reference to support his strategy?

• The merger with Chevron

• The acquisition of Texaco

• The restructuring of Dell

• The sale of Caesars

Why did Carl not intervene earlier in the Anadarko deal?

• He supported the management's decision

• He was not involved with the company at that time

• He believed the deal was beneficial

• He was unaware of the deal

What does Carl believe is necessary for a peaceful resolution?

• A public apology from the board

• A merger with Chevron

• A friendly deal with the management

• A complete withdrawal from the acquisition