Saturday, May 4, 2019

Occidental shareholders criticize bid for Anadarko, Buffett financing

Occidental shareholders criticize bid for Anadarko, Buffett financingSeveral major Occidental Petroleum Corp shareholders have voiced opposition to the oil company's $38 billion bid for rival Anadarko Petroleum Corp that now includes a pricey financing deal with billionaire Warren Buffett. Occidental and Chevron Corp are battling for Anadarko and its holdings of nearly a quarter million acres in the Permian Basin, the top U.S. shale field, where low-cost production has helped turn the United States into the world's top oil producer at 12.3 million barrels per day. Occidental shares were trading on Thursday at $57.48, down sharply from $66.63 a month ago, prior to rumors it might challenge Chevron.




from Yahoo News - Latest News & Headlines https://yhoo.it/2GXoeGx

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