BangaloreAround the US oil producer Anadarko Petroleum a race beats. Competitor Occidental Petroleum announced on Wednesday a $ 57 billion bid to outstrip rival Chevron's offer by $ 7 billion.
It would be the biggest deal in the industry since oil giant Royal Dutch Shell took over gas specialist BG Group in 2016. The Anadarko buyer would gain greater access to the Texas Permian Basin. There are large quantities of shale oil, which is obtained using the controversial fracking method.
For each Anadarko share, Occidental offers $ 76, of which $ 38 in cash and 0.6094 own shares. That's 19 percent more than Tuesday's Anadarko closing price and 62 percent more than the closing price just before the April 12 chevron bid. Chevron offers $ 16.25 and arithmetically 0.3869 treasury shares.
The price of Anadarko put on Wednesday in New York pre-market by ten percent to 70.30 dollars.
Anadarko (t) Occiental (t) Chevron (t) Shell (t) Oil (t) Mergers & Acquisitions M & A (t) Investment Stock Share (t) Share (t) Occidental Petroleum (t) BG Group (t) oil