HOUSTON (Reuters) – Anadarko Petroleum Corp shareholders will vote Aug. 8 on the oil and gas producer’s planned $38 billion sale to Occidental Petroleum Corp – the biggest oil and gas deal of the year.
Occidental avoided its own shareholder vote on the deal by securing a controversial $10 billion financing agreement with Warren Buffett’s Berkshire Hathaway , which allowed it to raise the cash portion of its offer.
Anadarko - Holders - Vote - Deal - Price
While an Anadarko holders’ vote for the proposed deal is very likely, the price has angered several Occidental investors, including billionaire activist Carl Icahn, who has called for a special meeting to replace four Occidental directors.
Icahn’s demand for Occidental seats seeks to influence the pace and scale of its future asset sales. He has attacked the Anadarko deal as “hugely overpriced” and criticized Occidental Chief Executive...
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