Occidental Petroleum Offers 14% More than Chevron to Buy Anadarko

Less than two weeks ago Chevron announced a deal to buy Anadarko Petroleum for $33 billion plus assuming outstanding debt, a deal worth $50 billion (see Permian Love Story: Chevron Buying Anadarko in $50B Megamerger). At the time we told you about a potential cloud on the horizon–that Occidental Petroleum had offered more for Anadarko. Indeed, Oxy wants Anadarko too, and a full-blown bidding war has now erupted. Yesterday Oxy made it’s offer public, an offer 14% higher than Chevron’s offer: $57 billion.

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