🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Anadarko Petroleum sheds new light on Occidental finances ahead of vote

Published 07/29/2019, 07:02 PM
Updated 07/29/2019, 07:06 PM
Anadarko Petroleum sheds new light on Occidental finances ahead of vote
OXY
-
APC
-

HOUSTON (Reuters) - Anadarko Petroleum Corp (N:APC) on Monday released new financial details of its proposed combination with Occidental Petroleum (N:OXY) that revealed its acquirer did not expect to generate enough cash to cover its shareholder payments until 2022.

Anadarko amended its merger proxy in response to a lawsuit alleging it provided shareholders with inadequate information on its proposed $38 billion cash-and-stock sale to Occidental. The revisions made clear Occidental's management projected free cash flow below required dividend payments in each of the next three years. Its shareholders are due to vote on the sale Aug. 8.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.