Anadarko and Chevron signed a merger agreement earlier this month, but Anadarko Petroleum said Monday that it is now considering an offer from Occidental worth about $57 billion in cash and stock. Chevron’s offer would be worth about $50 billion by the same metric, including debt and book value of non-controlling interest. Warren Buffett’s Berkshire Hathaway is financing a bid by Occidental Petroleum for Anadarko, potentially upending Chevron’s $33-billion offer for the energy company. The preferred stock will accrue dividends at 8 per cent per year. Occidental shares traded at $58.46, down 2.7 per cent, in premarket trading.

Source: thestar April 30, 2019 13:18 UTC