. Last week, Occidental made a rival bid for the oil and gas driller, challenging Chevron's $33 billion buyout of Anadarko.Berkshire will receive 100,000 shares of cumulative perpetual preferred stock with a value of $100,000 a share.
The conglomerate also gets a warrant to purchase up to 80 million shares of Occidental at an exercise price of $62.50 a share."We are thrilled to have Berkshire Hathaway's financial support of this exciting opportunity," said Occidental CEO Vicki Hollub in a press release. Occidental shares closed Monday at $60.13. Anadarko closed at $73.32, just below the $76 cash and stock offer by Occidental for the company.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Warren Buffett explains why he thinks going to college isn't for everybodyBerkshire Hathaway CEO Warren Buffet, the third richest person in the world, said in a new interview that college and business school aren’t necessary for professional success.
Source: YahooNews - 🏆 380. / 59 Read more »
Occidental Petroleum Bids for AnadarkoOccidental Petroleum offered to purchase Anadarko Petroleum in a deal it values at $57 billion, more than Chevron’s bid for the oil company. Occidental welcome to the woodlands More borrowed money
Source: WSJ - 🏆 98. / 63 Read more »
Anadarko to Resume Talks With Occidental Petroleum on Buyout BidAnadarko Petroleum said it would consider Occidental Petroleum’s $38 billion bid, weeks after the company entered an agreement to be taken over by Chevron for about $33 billion.
Source: WSJ - 🏆 98. / 63 Read more »
Exclusive: Anadarko to pursue deal talks with Occidental Petroleum - sourcesAnadarko Petroleum Corp, the U.S. oil and gas exploration and production company...
Source: Reuters - 🏆 2. / 97 Read more »