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Anadarko Petroleum Corp (APC.N)

APC.N on New York Stock Exchange

72.61USD
17 May 2019
Change (% chg)

$-0.12 (-0.16%)
Prev Close
$72.73
Open
$72.48
Day's High
$72.69
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$72.45
Volume
2,817,493
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1,783,015
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$76.67
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$40.42

Latest Key Developments (Source: Significant Developments)

Occidental Says Under Debt Commitment Letter, BOFA & CGMI Committed To Provide 364-Day Senior Unsecured Bridge Loan Facility Of Up To $21.8 Bln
Friday, 10 May 2019 

May 10 (Reuters) - Occidental Petroleum Corp ::OCCIDENTAL-ENTERED DEBT COMMITMENT LETTER, DATED MAY 5, WITH BANK OF AMERICA, MERRILL LYNCH, PIERCE, FENNER & SMITH INC & CITIGROUP GLOBAL MARKETS INC.OCCIDENTAL SAYS UNDER DEBT COMMITMENT LETTER, BOFA & CGMI COMMITTED TO PROVIDE 364-DAY SENIOR UNSECURED BRIDGE LOAN FACILITY OF UP TO $21.8 BILLION.OCCIDENTAL SAYS UNDER DEBT COMMITMENT LETTER, BOFA & CGMI COMMITTED TO PROVIDE 364-DAY SENIOR UNSECURED BRIDGE LOAN FACILITY OF UP TO $21.8 BILLION.  Full Article

Occidental's Acquisition Of Anadarko Unanimously Approved By Boards Of Both Companies
Friday, 10 May 2019 

May 9 (Reuters) - Occidental Petroleum Corp ::OCCIDENTAL TO ACQUIRE ANADARKO.ENTERED INTO A DEFINITIVE AGREEMENT WHEREBY OCCIDENTAL WILL ACQUIRE ANADARKO PETROLEUM CORPORATION.DEAL EXPECTED TO BE ACCRETIVE TO CASH FLOW AND FREE CASH FLOW YEAR-ONE.OCCIDENTAL'S ACQUISITION OF ANADARKO HAS BEEN UNANIMOUSLY APPROVED BY BOARDS OF BOTH COMPANIES.OCCIDENTAL PETROLEUM - ANADARKO BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT ANADARKO SHAREHOLDERS APPROVE TRANSACTION WITH OCCIDENTAL.OCCIDENTAL PETROLEUM- EXPECTS TO FUND CASH PORTION OF CONSIDERATION WITH COMBINATION OF CASH FROM BALANCE SHEET AND FULLY COMMITTED DEBT AND EQUITY FINANCING.BANK OF AMERICA MERRILL LYNCH AND CITI ARE ACTING AS OCCIDENTAL'S FINANCIAL ADVISORS.CO TO EXECUTE A PLANNED PORTFOLIO OPTIMIZATION STRATEGY WITH $10-15 BILLION OF DIVESTITURES OVER NEXT 12-24 MONTHS.SAYS CRAVATH, SWAINE & MOORE LLP IS SERVING AS LEGAL COUNSEL..TRANSACTION IS EXPECTED TO CLOSE IN SECOND HALF OF 2019.  Full Article

Anadarko Agrees To Be Acquired By Occidental
Friday, 10 May 2019 

May 9 (Reuters) - Anadarko Petroleum Corp ::ANADARKO AGREES TO BE ACQUIRED BY OCCIDENTAL.TERMINATES MERGER AGREEMENT WITH CHEVRON.ENTERED INTO A DEFINITIVE MERGER AGREEMENT WITH OCCIDENTAL PETROLEUM CORPORATION.IN ACCORDANCE WITH TERMS OF THAT AGREEMENT, ANADARKO HAS PAID A TERMINATION FEE OF $1 BILLION TO CHEVRON.OCCIDENTAL HAS OBTAINED COMMITTED FINANCING FOR ENTIRE CASH PORTION OF AGGREGATE TRANSACTION.  Full Article

Icahn Is Unlikely To Challenge Occidental-Anadarko Deal - Bloomberg, Citing Sources
Friday, 10 May 2019 

May 9 (Reuters) - :ICAHN IS UNLIKELY TO CHALLENGE OCCIDENTAL-ANADARKO DEAL - BLOOMBERG, CITING SOURCES.  Full Article

Chevron Will Not Increase Offer To Acquire Anadarko
Thursday, 9 May 2019 

May 9 (Reuters) - Chevron Corp ::CHEVRON WILL NOT INCREASE OFFER TO ACQUIRE ANADARKO.CHEVRON WILL NOT INCREASE OFFER TO ACQUIRE ANADARKO.CHEVRON CORP - INCREASING SHARE REPURCHASE RATE BY 25 PERCENT TO $5 BILLION PER YEAR.CHEVRON CORP - WILL RECEIVE $1 BILLION CASH TERMINATION FEE.CHEVRON CORP - COMMITTED TO ITS ADVANTAGED PORTFOLIO AND LONG-TERM VALUE PROPOSITION.CHEVRON CORP - ACCORDINGLY, CHEVRON ANTICIPATES THAT ANADARKO WILL TERMINATE MERGER AGREEMENT.CHEVRON CORP - UPON TERMINATION OF MERGER AGREEMENT, ANADARKO WILL BE REQUIRED TO PAY CHEVRON A TERMINATION FEE OF $1 BILLION.CHEVRON CORP - UNDER TERMS OF ITS PREVIOUSLY ANNOUNCED MERGER AGREEMENT WITH ANADARKO, IT WILL NOT MAKE A COUNTERPROPOSAL.CHEVRON CORP - UNDER TERMS OF ITS PREVIOUSLY ANNOUNCED MERGER AGREEMENT WITH ANADARKO, WILL ALLOW FOUR-DAY MATCH PERIOD TO EXPIRE.  Full Article

Anadarko Petroleum - Issues Under Negotiation Between The Govt Of Mozambique And Anadarko Have Been Resolved
Wednesday, 8 May 2019 

May 8 (Reuters) - Anadarko Petroleum Corp ::ANADARKO PETROLEUM - ALL ISSUES UNDER NEGOTIATION BETWEEN THE GOVERNMENT OF MOZAMBIQUE AND ANADARKO HAVE BEEN SATISFACTORILY RESOLVED.ANADARKO PETROLEUM - EXPECTED ANNOUNCEMENT OF A FINAL INVESTMENT DECISION FOR THE MOZAMBIQUE LNG PROJECT ON JUNE 18.  Full Article

Anadarko Board Determines Revised Proposal From Occidental Constitutes A "Superior Proposal"
Tuesday, 7 May 2019 

May 6 (Reuters) - Anadarko Petroleum Corp ::ANADARKO BOARD DETERMINES REVISED PROPOSAL FROM OCCIDENTAL CONSTITUTES A "SUPERIOR PROPOSAL".ANADARKO - BOARD HAS UNANIMOUSLY DETERMINED THAT REVISED ACQUISITION PROPOSAL IT RECEIVED FROM OCCIDENTAL CONSTITUTES A "SUPERIOR PROPOSAL".ANADARKO - ANADARKO NOTIFIED CHEVRON THAT AFTER COMPLYING WITH OBLIGATIONS TO CHEVRON, CO INTENDS TO TERMINATE CHEVRON MERGER AGREEMENT.  Full Article

Anadarko Likely To Deem Occidental Offer Superior Today - CNBC, Citing Sources
Monday, 6 May 2019 

May 6 (Reuters) - :ANADARKO LIKELY TO DEEM OCCIDENTAL OFFER SUPERIOR TODAY - CNBC, CITING SOURCES.  Full Article

Warren Buffett discusses China, Kraft Heinz, Occidental -- CNBC
Monday, 6 May 2019 

May 6 (Reuters) - Buffett says 'we do not have any control' or 'want control' on occidental petroleum's bid for anadarko petroleum bid :.  Full Article

Occidental Agrees To Contingent Sale Of Anadarko African Assets To Total For $8.8 Billion
Sunday, 5 May 2019 

May 5 (Reuters) - Occidental Petroleum Corp ::OCCIDENTAL AGREES TO CONTINGENT SALE OF ANADARKO AFRICAN ASSETS TO TOTAL FOR $8.8 BILLION.OCCIDENTAL - IN CONNECTION WITH OCCIDENTAL'S PROPOSAL TO BUY ANADARKO , ENTERED BINDING AGREEMENT TO SELL CO'S ALGERIA, GHANA, MOZAMBIQUE ,SOUTH AFRICA ASSETS TO TOTAL S.A.OCCIDENTAL PETROLEUM CORP SAYS SALE IS CONTINGENT UPON OCCIDENTAL ENTERING INTO AND COMPLETING ITS PROPOSAL TO ACQUIRE ANADARKO.OCCIDENTAL- AFTER ASSET SALE, CO EXPECTS TO DELIVER $2 BILLION ANNUAL COST SYNERGIES, $1.5 BILLION ANNUAL CAPITAL REDUCTIONS FROM PROPOSED ANADARKO ACQUISITION.OCCIDENTAL PETROLEUM -PROCEEDS OF SALE OF NON-STRATEGIC ASSETS COVERS A PORTION OF CASH CONSIDERATION TO FUND PROPOSED ACQUISITION OF ANADARKO.  Full Article

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Total CEO says planned buy of Anadarko's Africa assets 'perfectly fitting'

WASHINGTON French energy giant Total SA's planned acquisition of U.S. firm Anadarko's African assets is "perfectly fitting" with the company's overall strategy and helps play to its strengths, Chief Executive Patrick Pouyanne said on Thursday.