Occidental Petroleum Corp increased the cash component of its $38 billion bid to...
- Occidental Petroleum Corp increased the cash component of its $38 billion bid to acquire Anadarko Petroleum Corp on Sunday, removing a requirement for any deal to receive the approval of Occidental’s shareholders.
Occidental is trying to convince Anadarko to accept its offer and abandon its agreed $33 billion sale to Chevron Corp. Anadarko said on Monday that Occidental’s bid could be potentially superior to the deal with Chevron, but negotiations are continuing. Occidental submitted a new $76 per share offer to Anadarko on Sunday structured as 78 percent cash and 22 percent stock, as opposed to an even cash/stock split in its $76 per share offer previously.
“The financial support of Berkshire Hathaway as well as the agreement we announced with Total allows us to delever our balance sheet while focusing our integration efforts on the assets that will provide the most value for us,” Occidental Chief Executive Vicki Hollub said in a statement announcing the amended terms.
Should Anadarko abandon Chevron for Occidental, it will have to pay Chevron a $1 billion deal breakup fee.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Anadarko to resume talks with Occidental on 'superior' bidAnadarko Petroleum Corp said on Monday it planned to resume talks with Occidenta...
Leer más »
Anadarko to Resume Talks With Occidental Petroleum on Buyout BidAnadarko Petroleum said it would consider Occidental Petroleum’s $38 billion bid, weeks after the company entered an agreement to be taken over by Chevron for about $33 billion.
Leer más »
Buffett digs sweetest well in U.S. shale patchBerkshire Hathaway is putting up $10 billion to help Occidental fund its $38 billion bid for Anadarko. It’s a vote of confidence in Oxy’s unsolicited offer. As usual, though, the best deal will go to Warren Buffett himself, who can still win even if other shareholders lose.
Leer más »
Breakingviews TV: Omaha oxymoronWarren Buffett’s Berkshire Hathaway may put up $10 billion to finance Occidental’s $38 billion U.S. shale-drilling bid for Anadarko. For Occidental’s shareholders, though, taking money from the canny Buffett is a mixed blessing, as John Foley...
Leer más »
Occidental is winning Anadarko battle by a mileThe Texan shale producer’s stock has slumped since it offered $38 bln for its rival. The tie-up would rely on cutting costs in a single region, unlike a lower rival bid from Chevron. Yet even if Anadarko shareholders discount Oxy’s stock and planned savings, they’ll do better.
Leer más »
Occidental shareholders criticize bid for Anadarko, Buffett financingSeveral major Occidental Petroleum Corp shareholders have voiced opposition to t...
Leer más »
Occidental to sell Anadarko's African assets to Total SA for $8.8 billion if it buys AnadarkoOccidental Petroleum Corp said on Sunday it entered a binding agreement to sell ...
Leer más »
Warren Buffett bankrolls Occidental's Anadarko bid with $10 billionWarren Buffett's Berkshire Hathaway Inc committed $10 billion on Tuesday to...
Leer más »
Warren Buffett was willing to invest $20 billion in Occidental bid for Anadarko: SourcesWarren Buffett was willing to offer double what he eventually committed to help Occidental Petroleum acquire Anadarko Petroleum, sources say.
Leer más »