Houston Chronicle by Fuel Fix Staff April 29, 2019
The Woodlands oil and gas company Anadarko Petroleum said Monday it will resume negotiations with Occidental Petroleum after it submitted what could be a "superior" merger proposal to the $33 billion bid by Chevron.
Occidental, headquartered in Houston, has offered $38 billion to acquire Anadarko, including a larger amount of cash than Chevron. Occidental's bid, which values Anadarko at $76 a share, would pay half of that, or $38 a share, in cash, the balance in stock, Anadarko said.
Chevron's bid valued Anadarko at $65 a share, offering $16.25 a share in cash in addition to stock.
More:
https://www.houstonchronicle.com/business/energy/article/Anadarko-to-Resume-Occidental-Talks-About-38-13803149.php
