Anadarko Business

OXY Sees so much synergies in Anadarko Petroleum – Wants some of that synergie

OXY has joined the race to acquire Anadarko Petroleum APC. Occidental’s offer is far more lucrative than the proposal made by Chevron Corporation CVX earlier this month.

This offer is expected to be accretive to Occidental’s free cash flow. The company has identified $2 billion in annual cost synergies and $1.5 billion of annual capital expenditure reductions. –

But Wall Street is betting that Chevron will win the bidding war for Anadarko Petroleum . Chevron must lift its offer, the reasoning goes, but it doesn’t have to match one from Occidental Petroleum in order to acquire the independent energy company. –

Occidental Petroleum bids $76 a share for Anadarko, trumping Chevron offer for the driller

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