Investors Cheer as Icahn Places Bully-Elbow on Neck of Transocean (RIG)
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Notable ETF Movers of the Day 01/28: (OIH) Higher; (UNG) (XME) Lower
January 28, 2013 1:56 PM ESTGainers:
Market Vectors Oil Services ETF (NYSE: OIH) gained 0.45 percent to 43.3. Overall it was a mixed day in the oil services sector, but healthy gains in Transocean Ltd. (NYSE:... More
Investors Cheer as Icahn Places Bully-Elbow on Neck of Transocean (RIG)
January 28, 2013 8:59 AM ESTJust days after trashing hedge fund manager Bill Ackman, activist investor Carl Icahn is back in the news on Monday. This time the so-called "bully" has his elbow in the chest of offshore oil driller, Transocean Ltd. (NYSE: RIG). Armed with his lawyers, Icahn intends... More
Icahn Boosts Stake in Transocean (RIG) to 5.61%; Wants $4/Sh. Dividend
January 28, 2013 6:34 AM ESTIn a 13D filing on Transocean (NYSE: RIG), activist investor Carl Icahn disclosed a 5.61%, or 20,154,035 share, stake in the company.
From the 13D: "The Reporting Persons acquired the Shares in the belief that the Shares were undervalued at current levels. The Reporting Persons have had conversations with management of the Issuer and intend to have further discussions with management. The Reporting Persons strongly believe that the Issuer should return capital to shareholders and should declare a dividend of at least $4.00 per... More
