Occidental Petroleum Corp said on Monday that its latest bid to take over Anadar...
The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange in New York, U.S., April 30, 2019. REUTERS/Brendan McDermid
- Occidental Petroleum Corp said on Monday that its latest bid to take over Anadarko Petroleum Corp was designed to make sure Anadarko’s board considers its offer superior to one from Chevron Corp. Occidental increased the cash component of its $38 billion bid to acquire Anadarko on Sunday, removing a requirement for any deal to receive the approval of Occidental’s shareholders.
Skipping the shareholder vote will allow for “clarity of closing,” which Occidental Chief Executive Vicki Hollub said was why Anadarko board members think Chevron’s $33 billion offer was superior to Occidental’s $38 billion bid - it would not require a Chevron shareholder vote. Occidental did not want to skip the shareholder vote for a merger, but Hollub said it was in the best interest of shareholders to get a deal done without raising the overall price.
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Anadarko is likely to deem Occidental's buyout offer superior to Chevron's bid: Sources
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Occidental shareholders criticize bid for Anadarko, Buffett financingSeveral major Occidental Petroleum Corp shareholders have voiced opposition to t...
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Occidental to Sell Anadarko’s Africa Assets to Total if It Wraps Deal With AnadarkoOccidental reaches a potential deal to sell Anadarko's Africa assets for about $8 billion if the oil companies complete a proposed takeover
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Warren Buffett bankrolls Occidental's Anadarko bid with $10 billionWarren Buffett's Berkshire Hathaway Inc committed $10 billion on Tuesday to...
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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.
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