Warren Buffet invests $10B in Occidental Petroleum for Anadarko purchase
Occidental Petroleum could have billions more from Berkshire Hathaway to sweeten a deal to buy Anadarko Petroleum, despite an agreement from earlier this month where Chevron Energy would acquire the smaller oil company.
Headed by celebrity billionaire Warren Buffett, Berkshire Hathaway committed $10 billion to Occidental if the Houston-based company can close a deal to acquire all of Anadarko’s assets.
Occidental previously made an “unsolicited” offer that valued Anadarko at about $57 billion, and $76 per share, records show.
That offer came days after Chevron and Andarko signed an agreement for a merger that valued Andarko at about $50 billion, or $65 per share. Read Full Article - Carlsbad Current Argus, May 1, 2019