Texaco and its largest shareholder gave themselves...

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Texaco and its largest shareholder gave themselves..."


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Texaco and its largest shareholder gave themselves up to three extra days to negotiate as part of an effort to reach a truce in their feud about the oil firm’s future. Financier Carl C.


Icahn, who owns 14.8% of Texaco’s stock, has threatened a shareholder fight to elect his associates to the board at the company’s annual meeting in June. To help further discussions, Texaco


said it and Icahn had agreed to a mechanism under which the annual meeting could be postponed to June 17 from June 7. Both sides had previously agreed to postpone the meeting to June 14 if


necessary. MORE TO READ


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