Getting your player ready...
Oklahoma City – Billionaire investor Carl Icahn, whose overtures for Kerr-McGee prompted a stock buyback and a spinoff of the company’s chemical business, has started unloading his shares in the company.
Icahn sold about 3.5 million shares back to the company at $85 per share Wednesday, according to Securities and Exchange Commission filings. Icahn acquired about 7.2 million shares this year at an average price of $62 a share. The sell-off represents an $80.5 million profit for the investor. Kerr-McGee purchased Denver-based Westport Resources last year.
