Anadarko also closed its books to Chevron.
APRIL 9, 2019- Anadarko restarted talks with Chevron.
Anadarko also unsuccessfully asked Chevron to increase its offer.
Chevron and Anadarko signed their merger agreement that evening.
Walker took the offer to Anadarko's board, which rejected it.
Anadarko reiterated concerns about Occidental's financing arrangements
and ability to win two shareholder votes.
APRIL 10, 2019- Anadarko agreed to accept the offer on the table from Chevron.
Still, Occidental has lost 7
percent of its value since it first disclosed its interest in Anadarko.
The company said
it has resumed share buybacks that were suspended during its acquisition talks with Anadarko.
NOVEMBER 2017- Anadarko officially rejected the offer, saying it
would not be a good“strategic and operational fit”.
Anadarko shareholders will be allowed to vote on the sale
of the company, regardless of which bid considered.
Occidental this week said it expects to quickly close the purchase after Anadarko shareholders vote on Aug. 8.
APRIL 12, 2019- Chevron announced its deal to buy Anadarko, valued at the time at $65 per share.
Occidental announced this week that it expects to finalize the purchase quickly after Anadarko's shareholders vote on August 8.
If Occidental's bid for Anadarko succeeds,
Total has agreed to purchase Anadarko's properties in Algeria, Ghana, Mozambique and South Africa.
Anadarko Petroleum Corp on Tuesday beat analysts' estimate for
quarterly profit, helped by improved crude oil prices and lower costs.
JANUARY 2018-
Occidental made a revised proposal of $76 a share for Anadarko, half in cash and half in stock.
FEBRUARY 2018- Anadarko responded that Occidental's offer still carried too much risk, which
could only be mitigated with an all-cash offer.
Hess Corp, Royal Dutch Shell and Anadarko Petroleum Corp said they were monitoring the storm
and would take actions as needed.
Anadarko's shareholders voted 99% in favor of the deal
that gives them $72.34 per share based on Wednesday's closing price for Occidental.
As of Thursday's close,
Chevron shares had gained 25 percent over the last two years, while Anadarko's stock had dropped 23 percent.
Anadarko shareholders voted 99% in favor of the deal
giving them $ 72.34 per share based on Wednesday's closing price for Occidental.
Shares of Anadarko surged 32 percent Friday morning, reflecting
the 39 percent premium offered by Chevron compared to Thursday's closing market price.
Anadarko's advisers said that negotiations with Occidental could
take two more weeks, jeopardizing a bird in hand that Walker had with Chevron's offer.
Shares of Anadarko surged 32 per cent Friday morning, reflecting
the 39 percent premium offered by Chevron compared to Thursday's closing market price.
MAY 5, 2019- Occidental clinched an agreement to sell Anadarko's African assets to Total for $8.8 billion in the event of a deal.
MAY 6, 2019- Anadarko's board found Occidental's bid to be superior,
triggering a four-day clock in its contract with Chevron that allowed the latter to match.