LOS ANGELES (dpa-AFX) - Anadarko Petroleum Corp. (APC) said it has decided to resume talks with Occidental Petroleum Corporation as the company's board has found the Occidental proposal could be a 'Superior Proposal' over Chevron deal.
Occidental has offered to acquire Anadarko for consideration comprised of $38.00 in cash and 0.6094 of a share of Occidental common stock per share of Anadarko common stock. As per the Chevron deal, Chevron would acquire Anadarko for consideration comprised of $16.25 in cash and 0.3869 of a share of Chevron common stock per share of Anadarko common stock.
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