https://www.miningweekly.com

Chevron to acquire Anadarko for $33bn in stock and cash

3rd May 2019

By: Bloomberg

  

Font size: - +

Chevron Corp will acquire Anadarko Petroleum Corp for $65 per share, the company said in a statement. Anadarko shareholders will receive 0.3869 Chevron shares and $16.25 in cash for each Anadarko share.

Chevron will issue 200-million shares and pay $8-billion in cash. The company will also assume about $15-billion of net debt.

Chevron will boost its share repurchase rate by $1-billion to $5-billion a year on closing of the deal.

The transaction is expected to achieve run-rate cost synergies of $1-billion before tax and capital spending cuts of $1-billion within a year of closing.

“The combination of Anadarko’s premier, high-quality assets with our advantaged portfolio strengthens our leading position in the Permian, builds on our deep-water Gulf of Mexico capabilities and will grow our liquefied natural gas business. It creates attractive growth opportunities in areas that play to Chevron’s operational strengths and underscores our commitment to short-cycle, higher-return investments,” Chevron chairperson and CEO Michael Wirth says.

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.076 1.164s - 110pq - 2rq
Subscribe Now