News Formal

Chevron's stock surges after refusing to raise bid for Anadarko, expects $1 billion merger termination fee

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 6 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 6%
  • Publisher: 97%

Malaysia News News

Chevron surges on word that it won't up bid for Anadarko

Shares of Chevron Corp. CVX, -0.65% shot up 3.1% in premarket trade Thursday, after the oil giant said it would not raise its bid to buy Anadarko Petroleum Corp. APC, +0.05% and expects Anadarko to terminate the merger deal. "Winning in any environment doesn't mean winning at any cost," said Chevron Chief Executive Michael Wirth. "Cost and capital discipline always matter, and we will not dilute our returns or erode value for our shareholders for the sake of doing a deal.

Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 3. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Occidental: Skipping shareholder merger vote will make its Anadarko bid superior to Chevron'sOccidental Petroleum Corp said on Monday that its latest bid to take over Anadar...
Source: Reuters - 🏆 2. / 97 Read more »

Occidental: Skipping shareholder merger vote will make its Anadarko bid superior to Chevron'sOccidental Petroleum Corp said on Monday that its latest bid to take over Anadar...
Source: Reuters - 🏆 2. / 97 Read more »