Chevron: buys Anadarko for 33 billion dollars

(CercleFinance.com) - Chevron has entered into a definitive agreement to buy US energy company Anadarko in a deal valued at 33 billion dollars, the oil giant said on Friday.


Under the terms of the agreement, Anadarko shareholders will receive 0.3869 Chevron shares and 16.25 dollars in cash for each Anadarko share they hold.

The transaction has a total enterprise value of 50 billion dollars, Chevron said.

The oil major said that the acquisition of Anadarko will improve its upstream portfolio and strengthen its positions in large, shale, deepwater and natural gas resource basins.

The transaction - structured as 75% stock and 25% cash - will unlock annual synergies of approximately 2 billion dollars, and will be accretive to free cash flow and earnings one year after close, Chevron said.

Copyright (c) 2019 CercleFinance.com. All rights reserved.