Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with Anadarko Petroleum Corporation (NYSE: APC) to acq
Source: www.businesswire.com
Chevron Corp (NYSE: CVX) announced Friday that it plans to acquire Anadarko Petroleum Corp for $33 billion in 75% stock and 25% cash transaction. Under the terms of the deal, Anadarko shareholders are entitled to receive 0.3869 shares of Chevron and $16.25 in cash for each Anadarko share. Upon closing of transaction, Chevron will issue ~200 million shares of stock and pay ~$8 billion in cash. Chevron also expects to have net debt of $15 billion upon closing. The total enterprise value of the transaction is $50 billion, and is expected to close in the second half of 2019.
