Anadarko: Occidental Bid 'Superior Proposal'

Date : 05/07/2019 @ 12:16AM
Source : Dow Jones News
Stock : Chevron Corp. (CVX)
Quote : 123.93  0.0 (0.00%) @ 1:59PM

Anadarko: Occidental Bid 'Superior Proposal'

Anadarko (NYSE:APC)
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   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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