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Chevron announces agreement to acquire Anadarko

Chevron announced that it has entered into a definitive agreement with Anadarko Petroleum to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at $33 billion, or $65 per share. Based on Chevron’s closing price on 11 April 2019 and under the terms of the agreement, Anadarko shareholders will receive 0.3869 shares of Chevron and $16.25 in cash for each Anadarko share. The total enterprise value of the transaction is $50 billion. The acquisition of Anadarko will significantly enhance Chevron’s upstream portfolio and further strengthen its positions in large, attractive shale, deepwater and natural gas resource basins. Further, Western Midstream Partners is a successful midstream company whose assets are well aligned with the combined companies’ upstream ...

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