In the battle for oil driller Anadarko, an unsolicited bid from Occidental is beating the rival bid from Chevron by a mile. johnsfoley
Anadarko Petroleum is considering rival bids from U.S. oil drillers Occidental Petroleum and Chevron that value the company at up to $38 billion.
Warren Buffett’s Berkshire Hathaway plans to invest $10 billion in Occidental to help finance its unsolicited $38 billion cash-and-stock bid, which was made public on April 24.Chevron expects to cut $2 billion of annual costs and capital spending as a result of its deal, whereas Occidental expects $3.5 billion a year of savings.
Occidental shares are down 12 percent since Chevron’s deal with Anadarko was announced, based on their closing price on April 30. Chevron’s shares have declined 5 percent.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Anadarko confirms Occidental's $57 billion bidOil and gas producer Anadarko Petroleum Corp on Wednesday confirmed Occidental P...
Read more »
Exclusive: Anadarko to pursue deal talks with Occidental Petroleum - sourcesAnadarko Petroleum Corp, the U.S. oil and gas exploration and production company...
Read more »
Anadarko says Occidental offering may be better than bid from ChevronAnadarko Petroleum Corp. said Monday it intends to resume negotiations with Occidental Petroleum Corp. regarding its bid to acquire the company that came...
Read more »
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.
Read more »
Anadarko to resume talks with Occidental on 'superior' bidAnadarko Petroleum Corp said on Monday it planned to resume talks with Occidenta...
Read more »
Anadarko to negotiate sale to Occidental 'superior' to Chevron dealAnadarko Petroleum Corp said on Monday it would negotiate with Occidental Petrol...
Read more »
Buffett's Berkshire Hathaway to invest $10 billion in Occidental Petroleum for Anadarko takeoverWarren Buffett is getting involved in a rare bidding war unfolding in the energy industry.
Read more »
Berkshire To Make $10 Billion Investment In Occidental To Finance Anadarko BidBerkshire Hathaway has agreed to make a $10 billion investment in Occidental Petroleum as part of an effort to help the oil company complete a proposed deal to buy Anadarko Petroleum.
Read more »
Buffett's Berkshire to invest $10 billion in Occidental for Anadarko buyWarren Buffett's Berkshire Hathaway to invest $10 billion in Occidental for Anadarko buy
Read more »