Texaco and its largest shareholder gave themselves...

Texaco and its largest shareholder gave themselves up to three extra days to negotiate as part of an effort to reach a truce in their feud about the oil firm’s future. Financier Carl C. Icahn, who owns 14.8% of Texaco’s stock, has threatened a shareholder fight to elect his associates to the board at the company’s annual meeting in June. To help further discussions, Texaco said it and Icahn had agreed to a mechanism under which the annual meeting could be postponed to June 17 from June 7. Both sides had previously agreed to postpone the meeting to June 14 if necessary.