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Inside the Bidding War for Anadarko

Apr.25 -- Anadarko Petroleum is under pressure from investors to explain why it agreed to a takeover offer from Chevron despite it being substantially lower than Occidental Petroleum’s $38 billion proposal. Occidental went public with its offer Wednesday and said it was essentially the same one made in January last year. Yet despite several further offers from Occidental as recently as this month, Anadarko’s board agreed April 12 to Chevron’s deal, which is substantially cheaper and comes with $1 billion break fee. Bloomberg's Alix Steel and Tina Davis discuss the bidding war for Anadarko.

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