Icahn Nominates 3 to Transocean (RIG) Board, Seeks $4/Share Dividend
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Transocean (RIG) Declines Icahn Dividend, Management Proposal
March 18, 2013 7:05 AM EDTTransocean Ltd. (NYSE: RIG) announced that its Board of Directors has reviewed the proposals submitted by certain Funds affiliated with Carl Icahn for vote at its 2013 Annual General Meeting of Shareholders. Mr. Icahn proposed a dividend of $4.00 per share and nominated three candidates (John J. Lipinski, Jos Maria Alapont and Samuel Merksamer) for election to Transocean's Board of Directors. Mr. Icahn also submitted a proposal to repeal the company's staggered board structure.
The Board has determined that Mr. Icahn's dividend proposal is in direct conflict with Transocean's disciplined capital allocation strategy, which includes... More
Transocean (RIG) Declines Icahn Dividend, Management Proposal
March 18, 2013 7:05 AM EDTTransocean Ltd. (NYSE: RIG) announced that its Board of Directors has reviewed the proposals submitted by certain Funds affiliated with Carl Icahn for vote at its 2013 Annual General Meeting of Shareholders. Mr. Icahn proposed a dividend of $4.00 per share and nominated three candidates (John J. Lipinski, Jos Maria Alapont and Samuel Merksamer) for election to Transocean's Board of Directors. Mr. Icahn also submitted a proposal to repeal the company's staggered board structure.
The Board has determined that Mr. Icahn's dividend proposal is in direct conflict with Transocean's disciplined capital allocation strategy, which includes... More
Transocean (RIG) Declines Icahn Dividend, Management Proposal
March 18, 2013 7:05 AM EDTTransocean Ltd. (NYSE: RIG) announced that its Board of Directors has reviewed the proposals submitted by certain Funds affiliated with Carl Icahn for vote at its 2013 Annual General Meeting of Shareholders. Mr. Icahn proposed a dividend of $4.00 per share and nominated three candidates (John J. Lipinski, Jos Maria Alapont and Samuel Merksamer) for election to Transocean's Board of Directors. Mr. Icahn also submitted a proposal to repeal the company's staggered board structure.
The Board has determined that Mr. Icahn's dividend proposal is in direct conflict with Transocean's disciplined capital allocation strategy, which includes... More
Icahn Issues Open Letter to Transocean (NYSE: RIG) Shareholders; Proposes $4/Sh Dividend and 3 Directors
March 7, 2013 10:10 AM ESTCarl Icahn issues open letter to Transocean (RIG) shareholders:
Dear Fellow Shareholders of Transocean:
Today we delivered a formal letter to Transocean Ltd. informing them that I will be including the following items on the agenda at the Company's 2013 Annual General Meeting of Shareholders:
- A proposal to approve a $4 dividend per share to be paid in four equal quarterly installments,
- To elect three new directors, John J. Lipinski, Jose Maria Alapont and Samuel Merksamer, to the Board, and
- A proposal to repeal the Company's staggered board.
... More
Barclays Raises Aggressive Price Target on Transocean (RIG); More Catalysts Ahead
March 5, 2013 3:13 PM ESTBarclays bumped estimates and its priced target on Overweight-rated Transocean (NYSE: RIG) from $70 to $71 Tuesday following Q4 results and update.
The firm said the stock remains one of their favorite offshore drillers and despite several recent catalysts unfolding (settlement with the DOJ, the announcement of a... More
Deutsche Bank Maintains Sell on Transocean (RIG), Lowers PT to $45
March 5, 2013 9:51 AM ESTDeutsche Bank today maintained a Sell rating on Transocean (NYSE: RIG) and lowered its price target to $45.00 (from $49.00). Analyst said while earnings showed signs of progress, the company faced a number of issues.
"The announcement of $2.24/sh dividend struck the right balance... More
FBR Capital Cuts Price Target on Transocean (RIG), Keeps Bullish Rating
March 5, 2013 8:09 AM ESTFBR Capital cut its price target on Transocean (NYSE: RIG) from $68 to $60 but maintained an Outperform rating.
The firm comments, "In our view, the de-risking story continues to play out with the settlement of civil and criminal liabilities related to the... More
