Transocean Again Presses Investors To Reject Icahn Shake-Up

Law360, New York (May 3, 2013, 4:33 PM EDT) -- Offshore oil rigging giant Transocean Ltd. again on Friday urged its shareholders to vote against a shake-up effort helmed by Carl Icahn, saying the activist investor's case for change is misguided and based on an incomplete understanding of the business and its industry.

In a new investor presentation, Transocean reiterated its belief that its slate of five director nominees and a $2.24-per-share dividend would provide the best chance at returns and value creation. Conversely, the Swiss company said, Icahn's bid to oust three board members and...
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