Oil giant Chevron agrees to acquire Anadarko Petroleum in a deal valued at $33 billion
Chevron Corp. has agreed to buy Anadarko Petroleum Corp. in a cash-and-stock deal valued at roughly $33 billion as the company looks to strengthen its market positions in large shale projects, as well as deepwater and natural-gas resource basins.
It will buy all of Anadarko’s shares outstanding for $65 a piece. Anadarko shareholders will receive 0.3869 share of Chevron and $16.25 for each Anadarko share. Chevron said it plans to issue about 200 million shares of stock and pay roughly $8 billion in cash.
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