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Carl Icahn may be Right about Occidental’s Anadarko Deal, But for a Different Reason

MarketWatch

Activist investor Carl Icahn has complained that Occidental Petroleum Corp.’s deal for Anadarko Petroleum Corp. was too rich, pointing at interference from Berkshire Hathaway Inc.’s Warren Buffett and a competing bid from Chevron Corp. Icahn may be right about the deal, but academic research points to a different potential factor that Icahn has not identified. Occidental OXY, +3.02% and Anadarko APC, +1.11% share the same audit firms, and those auditors share an office...

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