June 4, 2019 / 12:50 PM / a month ago

Occidental bid for Anadarko gets U.S. FTC approval

FILE PHOTO: Anadarko Petroleum Corporation is seen in The Woodlands, Texas, U.S., April 30, 2019. REUTERS/Loren Elliott/File Photo/File Photo

(Reuters) - Oil and gas producer Occidental Petroleum Corp said on Tuesday the U.S. Federal Trade Commission has granted approval for its proposed $38 billion deal to buy Anadarko Petroleum Corp.

The waiting period required for companies under the Hart-Scott-Rodino Antitrust Improvements Act was terminated early by the FTC, the company said.

The deal is expected to close in the second half of 2019.

Reporting by Debroop Roy in Bengaluru; Editing by Shailesh Kuber

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