Anadarko says a sweetened $38 billion bid by Occidental was superior to an offer it had accepted from Chevron
Anadarko Petroleum Corp. said Monday that a $38 billion bid by Occidental Petroleum Corp. was superior to an offer it accepted from Chevron Corp., raising the stakes in the battle for the company.
Anadarko said it had notified Chevron that it will terminate the $33 billion deal it struck with Chevron in favor of Occidental’s offer, a day after Occidental sweetened its bid by raising the cash portion.
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