Anadarko: Occidental Bid 'Superior Proposal'
May 06 2019 - 7:16PM
Dow Jones News
By Josh Beckerman
Anadarko Petroleum Corp. (APC) on Monday said Occidental
Petroleum Corp.'s (OXY) revised bid for the company constitutes a
"superior proposal" under its existing agreement for a sale to
Chevron Corp. (CVX).
Chevron has until May 10 to propose revisions to the deal,
Anadarko said.
Occidental recently increased the cash portion of its $38
billion offer.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
May 06, 2019 19:01 ET (23:01 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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