Occidental gatecrashes Chevron party with $57bn Anadarko bid

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By Mike Turner
24 Apr 2019

The US’s Occidental Petroleum has swooped in with a roughly $57bn bid for Anadarko Petroleum, drawing battle lines against Chevron’s smaller bid for the shale oil company.

Occidental has offered $76 a share for Anadarko, which the acquisitive company said on Wednesday is around a 20% premium to Chevron’s offer.

Chevron has had an offer accepted to buy Anadarko at $65 a share, split between 25% cash and 75% stock. Occidental’s offer is a half and ...

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