Anadarko favouring Occidental takeover bid

THE ongoing bidding war for Anadarko Petroleum reached new heights this week after the takeover target announced on Monday it would reject Chevron Corp’s bid following a more lucrative offer from Occidental Petroleum.

Anadarko favouring Occidental takeover bid Anadarko favouring Occidental takeover bid Anadarko favouring Occidental takeover bid Anadarko favouring Occidental takeover bid Anadarko favouring Occidental takeover bid

Occidental CEO Vicki Hollub claims her company's bid will offer better synergies for Anadarko. Image obtained: Occidental Petroleum media.

 

Anadarko made the decision after Occidental improved its bid over the weekend offering a higher proportion of cash, and now Chevron will have until the end of the week to beat the offer.