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Chevron Paying 39% Premium in Anadarko Deal

Source: Dow Jones News
By Colin Kellaher


Chevron Corp. (CVX) is paying a roughly 39% premium in its $33 billion acquisition of Anadarko Petroleum Corp. (APC).

Chevron said it will issue 0.3869 shares and $16.25 in cash for each share of the Woodlands, Texas, exploration and production company.

Based on Thursday's closing stock prices, the deal values Anadarko at $65 a share, a 38.9% premium.

Anadarko shares, which closed Thursday at $46.80, surged 32% to $61.78 in premarket trading Friday, while Chevron shares slipped 2.8% to $122.50.


Write to Colin Kellaher at [e-mail]


(END) Dow Jones Newswires

April 12, 2019 06:44 ET (10:44 GMT)

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