Chevron is buying Anadarko in a $50 billion oil megadeal
|04/12/2019||Posted by BusinessMediaguide.Com under General World News||
- Anadarko Petroleum is being bought by Chevron Corporation in a $33 billion megadeal, sending Anadarko’s shares up by 30%.
- Chevron, the world’s third-largest energy company expects the deal to enhance its shale, deepwater, and natural gas operations.
- Chevron expects to realize $2 billion in synergies from the deal, but take on $15 billion in debt.
- It plans to divest between $15 billion and $20 billion of assets between 2020 and 2022, allowing it to slash debt and return cash to shareholders.
- It will also leverage higher cash flow to bump up share repurchases from $4 billion per year to $5 billion.
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