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CVX - Berkshire Got A Steal Anadarko Got A Deal Occidental Was The Meal
Chevron Corporation
Occidental Petroleum (OXY) took the biggest issue facing US shale oil players - a chronic undervaluation versus the price of oil itself - and made it worse by making the biggest most ill-advised acquisition at a ridiculous premium. OXY chose to buy Anadarko Petroleum (APC) at a price even higher than what Chevron (CVX) had agreed to pay. Just to make matters more interesting, OXY got Berkshire Hathaway involved (BRK.A, BRK.B). We break down the deal metrics and tell you the best way to play this