Occidental completes Anadarko acquisition

Aug. 9, 2019

Offshore staff

HOUSTON Occidental Petroleum Corp. has completed its acquisition of Anadarko Petroleum Corp. in a transaction valued at $55 billion, including the assumption of Anadarko’s debt.

The closing of the transaction follows approval of the transaction by Anadarko’s shareholders at a special meeting held on Thursday, Aug. 8. More than 99% of the shares voted at the meeting were in favor of the Occidental merger agreement.

Anadarko shareholders are receiving $59.00 in cash and 0.2934 shares of Occidental common stock per share of Anadarko common stock in the transaction.

Anadarko’s common stock will no longer trade on the New York Stock Exchange.