When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
APC - Why The Market Is Wrong On The Occidental Bid For Anadarko
Anadarko Petroleum Corporation
This is a note on the bidding war for Anadarko (APC) after the market has had some time to process the Occidental (OXY) bid. The spread to the OXY offer is still 4%+ (see M&A dashboard), this translates into an annualized return of 17%+ if my closing date is about correct.
Analysts and the market are skeptical because:
APC's board did not appear very willing to engage OXY's board.
Anadarko's board rejected the offer from Occidental because of perceived greater deal risk.
A potential transaction would blow out OXY's leverage