Bidding competition for Anadarko – Occidental offers $ 57 billion

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Anadarko

The course of the company is growing rapidly.

(Photo: AP)

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.

Handelsblatt Energy Briefing

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

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