Activist investor Icahn raises stake in Occidental to nearly 10%

(Reuters) – Billionaire investor Carl Icahn has raised his stake in Occidental Corp to nearly 10%, or about 88.6 million shares, saying the shares were undervalued, an SEC filing http://bit.ly/2Qb9byt on Thursday showed.

Icahn has been waging a bitter battle with Occidental’s board over its $38 billion acquisition of Anadarko Petroleum and had disclosed in February that he cut his stake to 22.6 million shares as of Dec. 31.

(Reporting by Shanti S Nair in Bengaluru; Editing by Arun Koyyur)