Activist investor Icahn raises stake in Occidental to nearly 10%

FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network’s Neil Cavuto show in New York February 11, 2014. REUTERS/Brendan McDermid/File Photo

(Reuters) – Billionaire investor Carl Icahn has raised his stake in Occidental Corp (OXY.N) to nearly 10%, or about 88.6 million shares, saying the shares were undervalued, an SEC filing on Thursday showed.

Icahn has been waging a bitter battle with Occidental’s board over its $38 billion acquisition of Anadarko Petroleum and had disclosed in February that he cut his stake to 22.6 million shares as of Dec. 31.

Reporting by Shanti S Nair in Bengaluru; Editing by Arun Koyyur

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