Global  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Occidental Vs. Chevron: Is There an Anadarko Bidding War?

Video Credit: The Street - Duration: 02:14s - Published < > Embed
Occidental Vs. Chevron: Is There an Anadarko Bidding War?

Occidental Vs. Chevron: Is There an Anadarko Bidding War?

Occidental Petroleum made a formal proposal to buy Anadarko Petroleum in a deal that would value the independent oil producer at $57 billion and trump a pending takeover proposal from Chevron Corp.

Occidental is offering $76 for each Anadarko share, marking a 20% premium to the group's pending deal with Chevron.

Anadarko, which is a part of the members-only investing club Action Alerts Plus' stock portfolio, is now caught in the middle of a bidding war between Occidental and Chevron, according to Jim Cramer.

And for that reason, he added, they're holding onto the stock.

"You got to hold on to it.

We got lucky, you could say, we held onto it...We've only held on to one in the 15 years I've been doing this crazy thing and now we're holding on to Anadarko." This is the fourth bid made by Occidental Petroleum for Anadarko, but the first since Anadarko and Chevron entered a deal this month.

Shares of Anadarko Petroleum Corp.

Jumped more than 11% to $71.28 in morning trading.

Related.

Who Might the Oil Majors Acquire Next After Chevron's Anadarko Deal?

Watch Jim Cramer's Daily NYSE Show and Replays Below

0
shares
ShareTweetSavePostSend
 

You Might Like


Recent related videos from verified sources

Chevron scraps bid for Anadarko [Video]Chevron scraps bid for Anadarko

Chevron abandoned its takeover bid for Anadarko Petroleum on Thursday, outmaneuvered by Occidental Petroleum&apos;s higher $38 billion offer that included more cash. Fred Katayama reports.

Credit: Rumble     Duration: 01:15Published

Jim Cramer: Why Investors Should Sell Anadarko [Video]Jim Cramer: Why Investors Should Sell Anadarko

Chevron said it won't increase its $50 billion takeover bid for independent drilling group Anadarko Petroleum, and will instead take the $1 billion break-up fee. Jim Cramer is breaking down his..

Credit: The Street     Duration: 00:37Published

Jim Cramer's Breakdown of the Anadarko Bidding War [Video]Jim Cramer's Breakdown of the Anadarko Bidding War

Anadarko Petroleum moved closer to sealing its planned takeover by Occidental Petroleum after its board approved the $38 billion bid over a rival approach from Chevron and it agreed to sell some of..

Credit: The Street     Duration: 02:01Published

Cramer's Takeaways for Ford, Chevron, Alibaba, Biogen, Visa [Video]Cramer's Takeaways for Ford, Chevron, Alibaba, Biogen, Visa

Cramer breaks down what investors need to take away from Ford and Chevron and explains why he's betting on a win from the Beardstown Ladies in CNBC's annual stock draft. The team picked Alibaba ,..

Credit: The Street     Duration: 01:04Published

S&P Stocks' Q1 Earnings Could Be Primed For Beats -- ICYMI [Video]S&P Stocks' Q1 Earnings Could Be Primed For Beats -- ICYMI

First-quarter earnings could show a lot of better-than-expected results. There's a caveat, but here's the logic: Earnings Beat? "The low bar is likely to be cleared," wrote LPL Financial's chief..

Credit: The Street     Duration: 01:43Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.