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Inside Occidental's $38B Campaign To Win Over Anadarko

Law360 (May 7, 2019, 5:46 PM EDT) -- Occidental's $38 billion bid for Anadarko is gaining traction after a revised proposal offered up more cash and less shareholder input, turning up the heat on Chevron to sweeten its own deal for the oil and natural gas company or walk away.

Anadarko Petroleum Corp. on Monday brushed off Chevron Corp.'s planned $65-per-share acquisition and got behind Occidental Petroleum Corp.'s revised $76-per-share offer. The updated Occidental offer now consists of $59 in cash and 0.2934 share of Occidental stock per Anadarko share, compared with the $38 in cash and 0.6094 shares of Occidental common stock that was previously on the table....

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