The Dispute Over The Oil Giant Anadarko Ignites: Op Re-launches On Chevron

The offer of $ 76 per share advanced by Occidental Petroleum incorporates a 19% premium compared to yesterday’s Anadarko closing price and exceeds the previous Chevron offer by $ 11

The oil sector in the spotlight of the market.

While in Italy the main focus is on the quarterly publication of Eni, Oltremare ignites the dispute between the US giant Chevron and Occidental Petroleum to take over the Texan company Anadarko Petroleum.

According to what is being leaked by the American media, Occidental Petroleum made a formal proposal to take over Anadarko Petroleum with a move designed to counter Chevron’s recent attempt to sign a $ 50 billion deal.

The dispute for the Texan Anadarko ignites: the figures at stake

The Houston-based independent group has relaunched its rival Chevron with an offer of $ 57 billion for Anadarko, equal to $ 76 per share, $ 11 a share more than the recent Chevron proposal.

OP explained that it can get much more than Chevron expected in terms of savings and synergies: «Our proposal is superior both financially and strategically to that of Chevron as it is potentially able to create a world leader in the energy sector from 100 billions of dollars with over 1.4 million barrels of oil equivalent to the day of production ».

The numbers involved are interesting. The offer of $ 76 per share advanced by Occidental Petroleum incorporates a 19% premium on the closing price of Anadarko yesterday (Tuesday, April 23) and exceeds the previous Chevron offer by $ 11.

In this context, the shares of Anadarko Petroleum listed on the Nasdaq list rose by over 10% in the pre-market on Wall Street in view of a session that promises to be equally brilliant.

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About the Author: Doreen Shannon

Since self-teaching how to trade forex, Doreen lives and breathes forex trading. Having been a successful portfolio manager and chief analyst for a few multinational Gaming companies, Doreen has established himself as one of the most respected Content Writer.

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