Mozambique: Occidental Launches Bidding War Over Anadarko

London — The US hydrocarbon company Occidental Petroleum has put in a counter offer to buy Anadarko Petroleum for 38 billion US dollars, a twenty per cent increase on the offer made earlier this month by the US giant Chevron.

The offer by Chevron has been accepted by Anadarko's management and accepting the new proposal would require Anadarko to pay a breakup fee of one billion dollars.

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