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OXY - Chevron Corp.: Expect The Takeover Battle To Heat Up
Occidental Petroleum Corporation
Chevron Corp. (CVX) has until Friday to decide whether or not it will submit a higher takeover bid for the acquisition of Anadarko Petroleum Corp. (APC). In my estimation, the odds are in favor of Chevron Corp. submitting a higher bid for Anadarko Petroleum Corp. this week. Chevron Corp. is eager to cement its position in the oil-rich Permian and it will likely pay top dollar for Anadarko Petroleum Corp.
Background
Chevron Corp. made a $33 billion bid for Anadarko Petroleum Corp. in April in order to grow its Permian operations