03-07-2020, 04:37 PM
Occidental, in May of 2019, bought Anadarko for $57 billion. Now Occidental is worth $25 billion. This is one of the great wealth destruction deals of all time.
If oil drops to the $30s for any extended time, I think OXY will have to cut the dividend. CVX may end up getting APC in the end after all, and OXY along with it, for half the price they would have spent a year ago for APC alone.
If oil drops to the $30s for any extended time, I think OXY will have to cut the dividend. CVX may end up getting APC in the end after all, and OXY along with it, for half the price they would have spent a year ago for APC alone.