HOUSTON (AP) — Anadarko is resurrecting buyout talks with Occidental, setting up a bidding war with Chevron which has offered $33 billion for the energy company.
Anadarko Petroleum Corp. accepted Chevron’s bid even though it had been in talks with Occidental for some time. It said Monday that it’s reopened talks with Occidental because its bid may be better than the one it received from Chevron.
Occidental Petroleum Corp. last week countered Chevron’s bid with an offer worth $76 per share in cash and stock. It put the value of its bid at $57 billion, including debt and book value of non-controlling interest. Chevron’s deal was valued at $50 billion including debt and book value of non-controlling interest.
