What is the value of Occidental's proposal to acquire Anadarko?

Occidental has proposed to acquire Anadarko for $76.00 per Anadarko share, based on Occidental's closing stock price on April 23, 2019. This value is comprised of $38.00 in cash and 0.6094 shares of Occidental common stock for each share of Anadarko.

What are the key conditions for this proposed acquisition to be completed?

The completion of the proposed transaction is contingent upon several factors, including Anadarko's cooperation, receipt of necessary approvals from both Occidental and Anadarko shareholders, and obtaining required regulatory approvals. Occidental also needs to secure financing for the transaction.

What are the main risks highlighted by Occidental regarding this acquisition?

Occidental has identified several risks, including the possibility that Anadarko may reject the proposal or that the terms of any definitive agreement may differ materially. Other risks include the ability to finance the substantial debt required, successfully integrate Anadarko's operations, achieve expected synergies and cost efficiencies, retain key employees, and manage potential business disruption and loss of customers.

Where can investors find more information about this proposed transaction?

Investors are urged to read any future filings with the SEC, such as proxy statements, registration statements, and tender offer statements, when they become available. These documents, which will contain important information, can be accessed for free on the SEC's website (www.sec.gov) or Occidental's website (www.oxy.com).

OXY/OXY-WT 8-K SEC Disclosure

Summary

Occidental Petroleum Corporation (OXY) announced on April 24, 2019, its unsolicited proposal to acquire Anadarko Petroleum Corporation for $76.00 per Anadarko share. The proposed transaction involves a mix of cash ($38.00) and stock (0.6094 shares of Occidental common stock) for each Anadarko share. This announcement signifies a major strategic move by Occidental to expand its operations through a significant acquisition. Investors should note that the terms are subject to negotiation and regulatory approvals, and there is a risk that Anadarko may reject the proposal or that the final terms could differ materially. The filing also includes forward-looking statements that highlight potential risks and uncertainties associated with the transaction, such as the ability to finance the deal, integrate operations, achieve synergies, and the potential for increased competition. Occidental emphasizes that actual results may differ from their expectations and cautions investors against placing undue reliance on these forward-looking statements. The company is also providing information on where investors can find additional details regarding the proposed transaction as it progresses.

Key Highlights

1Occidental Petroleum (OXY) made a proposal to acquire Anadarko Petroleum.
2The proposed acquisition price is $76.00 per Anadarko share.
3The offer comprises $38.00 in cash and 0.6094 shares of OXY common stock per Anadarko share.
4The transaction is subject to Anadarko's cooperation and shareholder approvals.
5Occidental acknowledges significant financial commitments and integration risks.
6Regulatory approvals are required for the transaction to proceed.
7The company has provided extensive forward-looking statements detailing potential risks and uncertainties.

OCCIDENTAL PETROLEUM CORP /DE/ 8-K Report, Corporate Update (Apr 24, 2019)

Summary

Key Highlights

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