Before Occidental Petroleum Corp clinched a deal on Thursday to buy Anadarko Pet...
- Before Occidental Petroleum Corp clinched a deal on Thursday to buy Anadarko Petroleum Corp for $38 billion, it pursued its U.S. oil and gas exploration and production rival for nearly two years, culminating in the sector’s most high-profile public contest since the 1980s.
Here is the inside account of the takeover battle, according to seven sources familiar with the discussions: JANUARY 2018 - Occidental made a revised proposal of $76 a share for Anadarko, half in cash and half in stock. MARCH 23, 2019 - Occidental sent Anadarko an offer for $19 per share in cash and 0.8737 shares of its stock for a total of about $76 a share. The offer was based on a 75/25 stock-cash split.
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