Anadarko Petroleum Corporation is seen in The Woodlands, Texas, U.S., April 30, 2019. REUTERS/Loren Elliott

HOUSTON (Reuters) – Shareholders of Anadarko Petroleum Corp (APC.N) on Thursday voted overwhelmingly to sell the company for $38 billion to rival Occidental Petroleum Corp (OXY.N), ending a short-lived contest that pitted two of the most storied names in the oil industry against one another.

Anadarko’s shareholders voted 99% in favor of the deal that gives them $72.34 per share based on Wednesday’s closing price for Occidental. Occidental shares were off a fraction at $45.93.

Reporting by Gary McWilliams; Editing by Marguerita Choy

Our Standards:The Thomson Reuters Trust Principles.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *