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Transocean agrees to deal with Icahn

November 12, 2013

NEW YORK - Oil driller Transocean has agreed to a deal with billionaire investor Carl Icahn after a months-long proxy fight. The company said Monday that it has agreed to support a dividend of $3 per share and reduce the size of its board. It is also looking to boost margins by $800 million through cost-cutting efforts and other measures. The stock climbed in premarket trading.



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