Oxy Struggles To Cope With The Impacts Of Its Acquisition Of Anadarko
- Date: 11-Aug-2020
- Source: Forbes
- Sector:Financial Markets
- Country:Saudi Arabia
Oxy Struggles To Cope With The Impacts Of Its Acquisition Of Anadarko
Vicki Hollub, president and chief executive officer of Occidental Petroleum Corp., speaks during the ... [+] 2019 CERAWeek by IHS Markit conference in Houston, Texas, U.S., on Monday, March 11, 2019. Photographer: F. Carter Smith/Bloomberg
© 2019 Bloomberg Finance LP
Hindsight is easy, but you have to believe that, if she could go back in time to April of 2019, Oxy CEO Vicki Hollub might take a pass on that $55 billion acquisition of Anadarko Petroleum. To be fair, no one could have foreseen the advent of the COVID-19 pandemic at the time Oxy stole Anadarko out of from under Chevron
CVX
at the end of their hugely expensive bidding war. But even at the time, most analysts