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Carl Icahn takes small stake in Occidental Petroleum, amid bidding war for Anadarko

Sara Salinas
Carl Icahn at the 6th annual CNBC Institutional Investor Delivering Alpha Conference on September 13, 2016.

Activist investor Carl Icahn has taken a small stake in Occidental Petroleum, people close to the matter told CNBC on Friday.

The company is in the middle of a rare bidding war for Anadarko Petroleum, having bid $38 billion for its smaller rival. Chevron had previously bid $33 billion for Anadarko.

Shares of Occidental jumped 2% in extended trading Friday, immediately following the news.

The size of Icahn's stake is still unclear, and Bloomberg — which first reported the stake — reports Icahn hasn't decided whether to push for changes at the company. Still, the stake throws another heavyweight name behind a bidding war that's already captured Wall Street's attention.

Billionaire investor Warren Buffett invested $10 billion in Houston-based Occidental in an effort to help the takeover bid. CNBC reported earlier Friday that Buffett was willing to invest as much as $20 billion.