Offers on the table: $76 per share from Oxy vs $65 from Chevron
By Richard Rostad, analyst, Oil & Gas 360

Dear Anadarko Board: It is unfortunate that you agreed to pay a breakup fee of $1 billion, representing approximately $2 per share, without even picking up the phone to speak to us after we made two proposals during the week of April 8 that were at a significantly higher value to the transaction you were apparently negotiating with Chevron—Vicki Hollub, CEO, Oxy

The third-largest oil and gas M&A deal in U.S. history has been disrupted, as Occidental Petroleum (ticker: OXY) today kicked off a bidding war for Anadarko (ticker: APC).

Oxy is offering $76 per share for Anadarko, split evenly between cash and equity. Based o...


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