Occidental Petroleum on May 5 revised its bid to buy Anadarko Petroleum, increasing the cash portion of its unsolicited offer to 78 percent of the $76-per-share price, equivalent to an equity value of $38 billion.
Seemingly, this announcement would have given some idea as to how Occidental would fund its stock and cash purchase of Anadarko. Its previous bid was 38 in cash and 0.6094 shares of Occidental stock.
The Total S.A. deal is an obligatory agreement and the divestment of the African assets would occur at the same time when Occidental wraps a deal to purchase Anadarko. Anadarko shareholders would still get to vote on the deal.
"The $8.8 billion value to be received for Africa represents an attractive value based on our extensive evaluation over the last 18 months", Vicki Hollub, president and chief executive officer of Occidental said in a statement.
Anadarko shares jumped 3.1 percent to $74.95 while Occidental dipped 0.4 percent to $57.74 and Chevron rose almost 1 percent to $118.43.
Total said it expected Occidental's take-over of Anadarko to be finalised by 2020.
Last week Occidental secured a $10 billion investment from Warren Buffett's Berkshire Hathaway Inc. The vast shale field holds oil and gas deposits that can produce supplies for decades using low-priced drilling techniques.
Occidental said this does not impact the planned $2 billion of annual cost savings and $1.5 billion of annual capital reductions already outlined as part of its potential acquisition of Anadarko. Should Occidental's bid be declared superior by Anadarko, Chevron will be given four days to match Occidental's offer, according to the terms of the contract between Chevron and Anadarko.
The African assets would represent around 1.2 billion boe of proven and probable reserves, 70 percent of which is gas, as well as two billion boe of natural gas in Mozambique.
Total's previously outlined plan to increase its dividend by 10 percent and buy back five million shares by the end of 2020 will not be impacted by the deal, the company added.
Some students remained in the school and authorities are now working to evacuate the elementary school, Nicholson-Kluth said. Parents of students at the STEM School have been told to go to the Northridge Rec Center to pick up their child.
Kentucky's law was immediately challenged by the ACLU after it was signed in March, and a federal judge temporarily blocked it. Tennessee, Missouri, South Carolina, Florida, Texas, Louisiana and West Virginia are considering similar proposals.
Maximum Security crossed the line first by 1 3/4 lengths before two jockeys filed objections against the horse for interference. In the Kentucky Derby , Saez and Maximum Security stepped out into the path of War of Will around the five-sixteenths pole.
Customers who don't click on the link in the email confirming their preorder will see it canceled by the end of the month. Samsung was required to issue the notification to USA buyers due to USA regulations , the company confirmed to Reuters .
Cardiff City have been relegated from the Premier League after slumping to a 3-2 defeat against Crystal Palace on Saturday. The previous time Cardiff were relegated from the Premier League, in 2014, it took them four years to return.
Microsoft uploaded the below video to its YouTube channel today, teasing an augmented-reality game based on Minecraft . Disclosure: Microsoft sponsored the correspondent's flights and hotel for the conference in Seattle, USA.
Joao Moutinho delivered the corner from the left and Leander Dendoncker's bullet header came crashing back off the crossbar. The Premier League was formed in 1992 and today we have seen another record broken .
I guess he figures that, having broken with Trump on personal matters, he's dead to Trumpworld now no matter what. Departing his home in Manhattan on Monday, Cohen teased that "there still remains much to be told".
An unknown number of Riot employees in Dublin also participated to show solidarity with their colleagues in the United States. As part of this, Riot promised to give incoming employees the ability to opt out of forced arbitration.
However today, Adam Schefter reports Pierre-Paul suffered a neck fracture, an injury which could turn out to be season-ending. In 2015, Pierre-Paul lost his right index finger and a portion of two other fingers during a July 4 fireworks accident.
Cincinnati Reds Release Veteran OF Matt Kemp
The Giants were down to their final out when Vogt connected off Raisel Iglesias for his first homer, tying it 11-11. Dereck Rodriguez gave up four of Cincinnati's homers on the way to his first loss in four road starts this season.
The voice of Claptrap not returning for Borderlands 3
Eddings' thread also mentioned the seemingly underhanded way in which Gearbox reportedly conducts business with employees. As GameSpot highlights , Eddings did the voiceover work for Claptrap while an employee at Gearbox.
Tariffs to take effect Friday could impact KC companies
A stumbling block in the talks is USA insistence on an enforcement mechanism with penalties if Beijing fails to keep its promises. Global oil prices went into a nosedive on 6 May on news of the U.S. planning to further raise tariffs on Chinese goods on 10 May.
Rashid And Nabi's Sunrisers Qualify For Playoffs In IPL
CSK boast of a tremendous record at home this season, winning six of their seven games at the MA Chidambaram Stadium here. And the success of Tahir & Co against the powerful MI batting line-up could very well determine the course of the match.
Scott Morrison egged at election function in Albury
I am sorry for that, ' she said. "People are allowed to protest peacefully, but anything approaching violence is unacceptable". NSW Police later confirmed the protester had been taken into custody. "I don't want to give a report, no thank you".
Pamela Anderson visits Julian Assange in prison
He had sought refuge there to escape extradition to Sweden where he had been accused of rape and sexual assault. The judge set a procedural hearing for May 30, with a substantive hearing to follow on June 12.
‘Game Of Thrones’ Coffee Cup Gaffe Goes Viral
Game of Thrones was the benchmark for quality television, the last four episodes have done remarkable damage to that reputation. As Starbucks prints customers' names on their cup, a fan modified a Starbucks cup to read the Khaleesi's full name with titles.