On January 25, 2013, Icahn Capital LP announced that it has had conversations with management of Transocean Ltd. and intends to have further discussions with management relating to capital allocation and shareholder value, the Company's business and strategies, as well as the possible addition of shareholder selected nominees to the Board of Directors of the Company. Icahn Capital also expressed its views that the Company should return capital to shareholders and should declare a dividend of at least $4.00 per share.