Icahn Urges Occidental To Start ‘’Fire Sale’’

Activist investor Carl Icahn has called on Occidental Petroleum’s management to go for a “fire sale” of assets in order to hit its divestment target following the $38-billion purchase of Anadarko, Bloomberg reports, adding that Icahn had suggested that Oxy sell its pipeline network Western Midstream Partners. Occidental has a divestment target range of $10-15 billion, to be completed by the middle of next year. The company amassed debt of $40 billion for the takeover of Anadarko as most of the price—78 percent—was…