Occidental Sweetens Deal To Acquire Woodlands-Based Anadarko

THE WOODLANDS, TX -- Houston -based Occidental Petroleum is sweetening the deal to acquire The Woodlands-based Anadarko, officials announced this week.

Occidental made its initial push to acquire Anadarko in April, offering $76 per share, in 50% cash and 50% stock. However, the new proposal offers 78% cash and 22% stocks, according to the Houston Business Journal.

READ ALSO: Chevron Acquires Woodlands-Based Anadarko Petroleum For $33B

On April 12, California-based Chevron, offered to buy Anadarko for $33 billion in cash and stock options designed to better optimize deep water exploration in the gulf and the energy-rich southwest region of the Texas Permian Basin.

Click here to read more in the Houston Business Journal