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Carl Icahn Wins Board Seat in Transocean Ltd. after Proxy Contest

17 May 2013

Schellenberg Wittmer's Corporate/M&A Team, led by partner Martin Weber, acted as the Swiss legal counsel to investor Carl Icahn and affiliates in its acquisition of a substantial stake in Swiss based and SIX/NYSE listed Transocean Ltd., one of the world’s largest offshore drilling contractors in the oil and gas industry. The Schellenberg Wittmer team also advised the Carl Icahn group on all Swiss law related aspects of its proxy contest in connection with Transocean's annual shareholders' meeting of 17 May 2013. As a result, Icahn nominee Samuel Merksamer won a seat on the Transocean board while its incumbent chairman was removed by shareholders' vote. 

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