Quantcast

Chevron, Anadarko launch integration planning


Reuters


HOUSTON, April 26 (Reuters) - Chevron Corp on Friday pushed back at the potential for a rival to break up its $33 billion deal for Anadarko Petroleum Corp , saying the two companies had already begun meetings on a merger plan.

Occidental Petroleum on Thursday sought to scuttle the proposed deal, submitting a higher, $38 billion cash-and-stock offer for Anadarko. Anadarko's board said on Thursday it would evaluate the new proposal.

"I'll just remind everyone that we've got a signed deal that has been approved by both boards and we've moving forward with integration planning," said Chevron Chief Executive Michael Wirth on a conference call with analysts. He said a "sizeable" group of employees had already met.






This article appears in: World Markets , Stocks , Oil
Referenced Symbols: APC ,



More from Reuters

Subscribe







See Reuters News













Research Brokers before you trade

Want to trade FX?