Accessibility Links

Occidental completes acquisition of Anadarko

09/08/2019
Like postLikeLabel * DEFAULT * en-GB

Follow

It’s official! After many twists and turns, Occidental Petroleum has finally completed its acquisition of Anadarko Petroleum Corporation. The deal has been completed in a transaction valued at $55 billion which has included the assumption of Anadarko’s debt.
Occidental completes acquisition of Anadarko
(Image via Occidental Petroleum).

Commenting on the deal, Vicki Hollub, President and Chief Executive of Occidental, said:

“With Anadarko’s world-class asset portfolio now officially part of Occidental, we begin our work to integrate our two companies and unlock the significant value of this combination for shareholders. We expect to deliver at least $3.5 billion annually in cost and capital spending synergies and the focus of our Board and management team is on execution to achieve the promise of this exciting combination. We look forward to updating the market on our continued progress in the months ahead.”

The closing of the transaction follows approval by Anadarko’s shareholders at a Special Meeting held yesterday. More than 99% of the shares voted at the Special Meeting were in favour of the Occidental merger agreement.

Anadarko shareholders are receiving $59.00 in case and 0.2934 shares of Occidental common stock per share of Andarko common stock in the transaction. Effective after the end of trading yesterday, Anadarko’s common stock will no longer trade on the New York Stock Exchange.

As the wave of mergers and acquisitions continues across the American oil and gas industry, now is the time to consider your next career move.

Take your oil and gas career to the next level with Fircroft


Register for free today and you’ll receive email job alerts about our latest opportunities. You can also explore our current vacancies here.
Tags: Oil & Gas
Add new comment
*
*
*
By commenting on this blog you're agreeing to our terms of use

Comments left should relate to the subject of the above blog. Unfortunately job applications cannot be accepted here.

For job enquiries and applications please use our job search and for technical or account queries please contact us.
Occidental completes acquisition of Anadarko - Time to read 2 min
Share this article
Like postLikeLabel * DEFAULT * en-GB

Follow

Back to Top

By clicking "Save" you consent to
receiving matching jobs based on the
job/page you are viewing by email from
Fircroft, as detailed in our privacy policy
Fircroft would like to keep you up to date with our current vacancies and latest company updates via email. Occasionally Fircrofts marketing may contain 3rd party or affiliate information, however we will not share your personal data with any 3rd parties without your consent. From time to time, we might contact you to get your views on the service you have received. To help you get the best out of Fircroft, we may personalise them based on your location and how you use fircroft.com
Fircroft would like to keep you up to date with the latest company updates and vacancies via SMS / Text messages
Your consent options above means that Fircroft cannot contact you about any new or alternative career vacancies. If you want Fircroft to only contact you about the role(s) you have applied for please continue, however if you would like to be considered for other positions please allow us to contact you by changing one or more of the above consent.