UPDATE 3-Occidental shareholders get first say on Anadarko deal with vote on Berkshire financing [Reuters (UK)]
Occidental Petroleum Corporation (OXY)
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Source: Reuters
Occidental shareholders get first say on Anadarko deal with vote on Berkshire financing - Reuters 3 Min Read HOUSTON (Reuters) - Occidental Petroleum shareholders next month will get their first say on the oil company’s troubled acquisition of Anadarko Petroleum when they vote on issuing shares and warrants to Berkshire Hathaway for helping finance the $38 billion deal. The Anadarko acquisition closed in August, months before an oil price crash sapped the cash flow Occidental needed to pay the debt taken with the purchase. Critics, including activist shareholder Carl Icahn, have said the financing deal with Berkshire Hathaway’s Warren Buffett was too generous. Occidental and Berkshire Hathaway declined to comment. Berkshire Hathaway’s $10 billion investment provided it with warrants for 80 million common shares in addition to an 8% dividend on preferred shares received for its support for the Anadarko Petroleum acquisition. Shareholders, who did not get to vote on the Anadarko deal la
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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