HES addendum: Other components of HES’ counter-proposal to Elliott are: i) to increase the dividend to an annual rate of $1.00 (from $0.40 currently); and ii) to buy back up to $4B of stock, which represents 15-20% of the shares outstanding based on the current share price.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”