Chevron Ends Anadarko Bid - Gets $1B Fee
May 9, 2019
Chevron noted that under the terms of its previously announced Merger Agreement with Anadarko Petroleum, it will not make a counterproposal and will allow the four-day match period to expire. Accordingly, Chevron anticipates that Anadarko will terminate the Merger Agreement.
in any environment doesn’t mean winning at
any cost. Cost and capital discipline always
matter, and we will not dilute our returns
or erode value for our shareholders for the
sake of doing a deal,” said Chevron’s
Chairman and CEO Michael Wirth. “Our
advantaged portfolio is driving robust
production and cash flow growth, higher
investment returns and lower execution risk.
We are well positioned to deliver superior
value creation for our shareholders.”