Wednesday, April 24, 2019

Here We Go! OXY Plummets -- Down 7% In Last Seven Minutes -- April 24, 2019

Makes counter-offer for Anadarko. Links everywhere. Here's one. Link also at Wall Street Journal.
  • Chevron offered $65/share on April 12
  • OXY had been talking with Anadarko until Chevron suddenly announced
  • now, OXY offers $76/share
  • OXY investors not happy
  • Anadarko, of course, jumped
Disclaimer: this is not an investment site. Do not make any investment decisions based on what you read here or think you may have read here.

Comments:
  • initial indications were that OXY was not going to get into a bidding war
  • an indication of how valuable shale is
  • indication of how much OXY needs a big acquisition 
  • CVX down about 0.35% 

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