Oilman T. Boone Pickens Jr. has sold...
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Oilman T. Boone Pickens Jr. has sold his stake in Texaco Inc., according to a filing with the Securities and Exchange Commission made March 31. Pickens declined to comment on reasons for the move. In February, Pickens sought Federal Trade Commission permission to acquire up to 15% of Texaco’s stock, although he apparently never approached that threshold. Pickens had said he supported Carl C. Icahn, Texaco’s largest shareholder, in Icahn’s efforts to pressure Texaco into boosting its stock price.
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