Advertisement

Texaco’s directors will meet today, as rumors...

Share

Texaco’s directors will meet today, as rumors swirl in financial markets that speculator Carl C. Icahn is joining another investor in a bid for the firm. Texaco earlier this year survived a takeover threat from Icahn, its largest stockholder, who lost a proxy battle for control of the board this summer. A source close to the oil firm, meanwhile, said that Texaco Canada Inc., 78% owned by Texaco, was close to being sold. Proceeds from the sale will help the company begin a $1.7-billion stock repurchase program.

Advertisement