APRIL 9, 2019- Anadarko restarted talks with Chevron.
Anadarko also closed its books to 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.
The company said
it has resumed share buybacks that were suspended during its acquisition talks with Anadarko.
Still, Occidental has lost 7
percent of its value since it first disclosed its interest in Anadarko.
NOVEMBER 2017- Anadarko officially rejected the offer, saying it
would not be a good“strategic and operational fit”.
MARCH 22, 2019- Chevron and Anadarko were close to signing an agreement when
Occidental contacted Anadarko once again.
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.
JANUARY 2018-
Occidental made a revised proposal of $76 a share for Anadarko, half in cash and half in stock.
Occidental announced this week that it expects to finalize the purchase quickly after Anadarko's shareholders vote on August 8.
Anadarko Petroleum Corp on Tuesday beat analysts' estimate for
quarterly profit, helped by improved crude oil prices and lower costs.
If Occidental's bid for Anadarko succeeds,
Total has agreed to purchase Anadarko's properties in Algeria, Ghana, Mozambique and South Africa.
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 shareholders voted 99% in favor of the deal
giving them $ 72.34 per share based on Wednesday's closing price for Occidental.
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.
Shares of Anadarko surged 32 percent Friday morning, reflecting
the 39 percent premium offered by Chevron compared to Thursday's closing market price.
As of Thursday's close,
Chevron shares had gained 25 percent over the last two years, while Anadarko's stock had dropped 23 percent.
Shares of Anadarko surged 32 per cent Friday morning, reflecting
the 39 percent premium offered by Chevron compared to Thursday's closing market price.