Berkshire Hathaway is buying Occidental Petroleum’s chemical division for $9.7 billion in what may be one of the last big deals of Warren Buffett.
Emails obtained by The Associated Press reveal Doug Burgum as North Dakota governor catered to the whims of oil and gas executives while leveraging those connections to expand his political profile.
"The whole thing is a travesty," Icahn, who is launching an increasingly-contentious proxy war to replace four Occidental directors, told CNN Business. "She gave him a gift," Icahn said of Hollub, adding that others would have done the deal a lot more cheaply. "I certainly don't blame Warren -- I blame the OXY board and Hollub," Icahn told CNN Business, using the oil company's stock ticker. While Occidental has championed the Anadarko deal as a smart way to capitalize on the US shale oil boom, Icahn fears the acquisition is too risky. "If oil goes below $40 a barrel, the Anadarko deal could give Occidental almost an existential problem," Icahn told CNN Business.
