Chevron Bows Out of Anadarko Acquisition, Gets $1 Billion Breakup Fee

摘要

Chevron Corp. announced May 9, that it will not make a counter proposal to Occidental Petroleum Corp.’s April 24 bid for Anadarko Petroleum Corp. following Chevron’s April 12 offer to acquire Anadarko. Occidental’s revised proposal is to acquire Anadarko for $59/share in cash and 0.2934 shares of Occidental common stock for each share of Anadarko common stock.