July 25, 2019 / 1:16 PM / a month ago

ISS urges Occidental shareholders to provide consent to fix record date

BOSTON, July 25 (Reuters) - Proxy advisory firm Institutional Shareholder Services on Thursday urged Occidental Petroleum shareholders to ask management to let them weigh in on board and governance issues as it buys rival Anadarko Petroleum Corp., one week after investor Carl Icahn laid out plans to shake up the company’s board.

ISS issued a research note on Thursday in which it recommended that shareholders provide consent for the request to fix a record date, a first step in a cumbersome process that could eventually lead to a special meeting being called.

The carefully worded note, written by Cristiano Guerra who heads ISS’s Special Situations Research Group, also says that ISS is not currently backing Icahn’s nominees or planned changes.

Reporting by Svea Herbst-Bayliss Editing by Chizu Nomiyama

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