29 March 2024
Occidental riles shareholders by eschewing approval vote to win Anadarko bidding war
Publication date: 07 May 2019
Gas Strategies Group
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Occidental Petroleum has further irritated stockholders by revising its hostile bid for rival Anadarko to remove the need for shareholder approval, which had been a bone of contention for Anadarko’s board. The company has also agreed to sell Anadarko’s African assets – including Mozambique LNG – to French major Total for USD 8.8 billion to fund the deal, should it progress.
The improved offer increases the cash portion of the bid to ...