Anadarko Battle ‘Opening Salvo’ In Permian M&A Campaign
Permian consolidation was already the big focus of global M&A. A bidding war for Anadarko, one of the leading independents, takes things to a whole new level. Chevron’s and Occidental’s bids for Anadarko are more ambitious than any other acquisition globally in the downturn, bar Shell/BG. The logic, though, is consistent with the big themes that have shaped M&A through the downturn. Corporate analysts Kris Nicol and Zoe Sutherland identify four. First, consolidation around advantaged assets. The Majors have set about strengthening core portfolio positions, chief among them Total (North ...
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