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CM - Oxy gets Buffett’s support & $10B to take over Anadarko - May 2019

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Occidental Petroleum Corp. placed 100,000 Series A 8% cumulative perpetual preferred shares at $100,000 each with new investor Berkshire Hathaway Inc. for gross proceeds of $10 billion. The equity placement will be finalized upon Oxy entering and completing its proposed, sweetened takeover of Anadarko Petroleum Corp. for $38 billion in cash and stock and the assumption of about $17 billion in debt, now the bid to beat, which is on track towards a definitive agreement. Anadarko said on May 6......
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