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This is the question that many in the energy industry are asking right now.
Although Chevron announced its intent last week to purchase Anadarko for $33 billion in a cash-and-stock deal, the fight to acquire this Woodlands-based company may not be over yet.
Yesterday, Occidental Petroleum (Oxy), delivered a letter to the Anadarko board offering 20% more than Chevron to acquire the company. Oxy’s offer of $57 billion includes $76 per share in cash and stock for current shareholders.
Oxy also shared its intent to the world online and with social media:
In its press release, Oxy’s president and CEO, Vicki Hollub stated, “We have been focused on Anadarko for several years because we have long believed that we are ideally positioned to generate compelling value from a combination with them. We look forward to engaging immediately with Anadarko’s Board and stakeholders to deliver this superior transaction.”
Read Oxy’s press release about the proposal HERE.