Occidental Bids $38 Billion for Anadarko, Challenging Chevron [The New York Times]
Occidental Petroleum Corporation (OXY)
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Source: The New York Times
Occidental Bids $38 Billion for Anadarko, Challenging Chevron - The New York Times HOUSTON — HOUSTON — Occidental Petroleum unveiled a $38 billion takeover bid for Anadarko Petroleum on Wednesday, challenging Chevron for control of the independent oil and gas company. The new offer raises the stakes in what would be the biggest takeover in the global oil industry in three years, as Occidental and Chevron join a battle for dominance in the Permian Basin, the oil field at the heart of the American shale revolution. Under the terms of its offer In premarket trading, Occidental’s stock price fell by roughly 6 percent, effectively lowering its offer. Shares in Anadarko were up 9.5 percent. Occidental had previously made a higher bid, but Anadarko’s board decided the Chevron was a better fit due to its size and international clout. Anadarko accepted Chevron’s bid two weeks ago. But Occidental says it is willing to persist. Occidental’s chief executive, Vicki Hollub, wrote in a letter to Ana
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OXY
Earnings
- 2/14/24 - In-Line
OXY
Sec Filings
- 4/17/24 - Form PX14A6G
- 4/10/24 - Form 8-K
- 3/21/24 - Form 4
- OXY's page on the SEC website