- 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
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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