Energy giant Chevron may have to sweeten its $33 billion offer for Anadarko Petroleum after fellow driller Occidental Petroleum put a higher bid on the table, analysts say.
"To put the point even more strongly, Occidental is going head-to-head against a supermajor four times its size," he said. Paul Sankey, equity analyst at Mizuho Securities, believes Chevron could up its offer by $5 per share, but not much more. Right now, the odds are just as great that Chevron will stick with its original bid on the view that Anadarko shareholders favor its offer, he says.
The winning bid will likely have to fall in the ballpark of Anadarko's net asset value at roughly $76 per share, says Michael Bradley, managing director for equity sales at investment bank Tudor Pickering Holt.
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Source: CNBC - 🏆 12. / 72 Read more »
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Anadarko Boosted CEO’s Payout Just Before $33 Billion Chevron MergerAnadarko Petroleum, a day before announcing its sale for $33 billion, sweetened the payout its top executives can reap in the event of a deal by millions of dollars, according to a compensation firm’s analysis. Seems legal... 😬🤔 Trumponomics at work. Nice work if you can find it. Joke.
Source: WSJ - 🏆 98. / 63 Read more »
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