Occidental Petroleum Corp. reported the successful completion of its acquisition of Anadarko Petroleum Corp. in a deal valued at $55 billion, including the assumption of Anadarko’s debt. The deal moved to the approval phase in May (OGJ Online, May 10, 2019).
The closing of the transaction follows approval of the deal by Anadarko shareholders at a special meeting held Aug. 8. More than 99% of the shares voted at the meeting were in favor of the Oxy merger agreement.
Anadarko shareholders are receiving $59 in cash and 0.2934 of a share of Oxy common stock per share of Anadarko common stock. Anadarko’s common stock will no longer trade on the New York Stock Exchange as of end of trading Aug. 8.