Official PayPal Seal

Occidental Petroleum, Backed by Buffett’s Financial Firepower, Makes a Go At Anadarko Petroleum in an Affront to Chevron

publication date: May 2, 2019
View a Printer Friendly version of this page, allowing you to print the page. Send a summary of this page to someone via email.

Image Source: Occidental Petroleum Corp -- IR presentation

The bidding war over Anadarko Petroleum is heating up with Warren Buffett’s Berkshire Hathaway offering to invest $10.0 billion in a new 8% preferred issue from Occidental Petroleum, along with warrants to purchase up to 80 million shares of OXY at $62.50, if the energy company successfully acquires Anadarko. Occidental is bidding against Chevron because both firms want Anadarko’s Permian Basin acreage, but the leverage Occidental would take on the fund the deal would be extremely onerous in our view.

Subscribe Now to Gain Access!

This page is available to subscribers only. To gain access to members only content (including this research piece), click here to subscribe. With a subscription, you'll have access to all of our premium commentary, equity reports, dividend reports and Best Ideas Newsletter and Dividend Growth Newsletter, as well as receive discounts on all of our modeling tools and products. Financial advisers and institutional investors have even more to choose from!

Click to Learn More about Valuentum

If you are already a subscriber, please

If you believe you should be able to view this area then please contact us and we will try to rectify this issue as soon as possible.

To gain access to the members only content, click here to subscribe. You will be given immediate access to premium content on the site.