Occidental Petroleum Corporation’s $57 Billion Proposed Acquisition Of Anadarko Petroleum Corporation

Cravath represented Occidental in connection with the proposal.

Occidental Petroleum Corporation (“Occidental”) delivered a letter to the Board of Directors of Anadarko Petroleum Corporation (“Anadarko”) setting forth the terms of a superior proposal by Occidental to acquire Anadarko for $76.00 per share, which represents a premium of approximately 20% to the value of Anadarko’s pending transaction as of April 23, 2019. The 50-50 cash and stock transaction is valued at $57 billion, based on Occidental’s closing price on April 23, 2019, including the assumption of net debt and book value of non-controlling interest.

Bank of America Merrill Lynch and Citi acted as Occidental’s financial advisers. Cravath, Swaine & Moore LLP provided legal counsel to Occidental.

The Cravath team was led by partners Faiza J. Saeed (Picture), George F. Schoen and Allison M. Wein and included associates Daniel J. Cerqueira, Claudia J. Ricciardi and Joel B. Tay on M&A matters; partners Lauren Angelilli and Kara L. Mungovan and associates Arvind Ravichandran, Richard Bohm and Jiyeon K. Barta on tax matters; partner Eric W. Hilfers, practice area attorney Romica Singh and associates Sarah W. Colangelo and Jana I. Hymowitz on executive compensation and benefits matters; partner Christine A. Varney, senior attorney Jesse M. Weiss and practice area attorney Kate F. Stamell on antitrust matters; partner Craig F. Arcella and associate Douglas C. Dolan on capital markets matters; partner Michael S. Goldman and associate Emily C. Weiss on banking matters; partner David J. Kappos and associate Kathryn-Ann Stamm on intellectual property matters; partner Matthew Morreale and senior attorney Annmarie M. Terraciano on environmental matters; and senior attorney Joyce Law and practice area attorney Brian M. Budnick on real estate matters. Mose Hogan III also worked on M&A matters and Dixing Tang worked on executive compensation and benefits matters.

Involved fees earner: Lauren Angelilli – Cravath Swaine & Moore; Craig Arcella – Cravath Swaine & Moore; Jiyeon Barta – Cravath Swaine & Moore; Richard Bohm – Cravath Swaine & Moore; Brian Budnick – Cravath Swaine & Moore; Daniel Cerqueira – Cravath Swaine & Moore; Sarah Colangelo – Cravath Swaine & Moore; Douglas Dolan – Cravath Swaine & Moore; Michael Goldman – Cravath Swaine & Moore; Eric Hilfers – Cravath Swaine & Moore; Mose Hogan III – Cravath Swaine & Moore; Jana Hymowitz – Cravath Swaine & Moore; David Kappos – Cravath Swaine & Moore; Joyce Law – Cravath Swaine & Moore; Matthew Morreale – Cravath Swaine & Moore; Kara Mungovan – Cravath Swaine & Moore; Arvind Ravichandran – Cravath Swaine & Moore; Claudia Ricciardi – Cravath Swaine & Moore; Faiza Saeed – Cravath Swaine & Moore; George Schoen – Cravath Swaine & Moore; Romica Singh – Cravath Swaine & Moore; Kate Stamell – Cravath Swaine & Moore; Kathryn?Ann Stamm – Cravath Swaine & Moore; Dixing Tang – Cravath Swaine & Moore; Joel Taylor – Cravath Swaine & Moore; Annmarie Terraciano – Cravath Swaine & Moore; Christine Varney – Cravath Swaine & Moore; Allison M. Wein – Cravath Swaine & Moore; Jesse Weiss – Cravath Swaine & Moore; Emily Weiss – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Occidental Petroleum Corporation ;

Print Friendly, PDF & Email
Avatar

Author: Ambrogio Visconti