Past year: ▲ 41%(41.12 – 65.00 USD)
Each one in plain English, with the numbers worked through for a shareholder.
7 June 2019business combination● NeutralMajor
Occidental filed an S-4 registering shares for its Anadarko purchase: $59.00 in cash plus 0.2934 of an Occidental share per Anadarko share, with the stock portion's value floating with Occidental's share price. It also set out the bridge financing, Berkshire Hathaway's $10 billion investment and the planned sale of Anadarko's African assets to Total, and a $1 billion termination fee payable by Anadarko in certain cases.
10 May 2019business combination● NeutralMajor
Occidental agreed on May 9, 2019 to buy Anadarko for $59.00 in cash plus 0.2934 of an Occidental share per Anadarko share, replacing Anadarko's terminated Chevron deal. Occidental planned to fund the cash with Berkshire Hathaway's $10 billion investment and other financing, backed by a committed bridge loan of up to $21.8 billion.
3 May 2019capital raising announcement● NeutralMajor
Occidental agreed on April 30, 2019 to sell Berkshire Hathaway $10 billion of new Series A preferred stock plus a warrant for 80,000,000 common shares at $62.50 each. The deal is conditional on Occidental completing its acquisition of Anadarko, so it is the financing for that bid. The preferred pays 8% (9% if dividends go unpaid) and ranks ahead of common shareholders; the warrant carries potential dilution for existing common holders.
2 Mar 2018debt financing● Neutral
Occidental sold $1 billion of notes due 2048 to refinance $500 million of notes that had just matured.
7 Nov 2016debt financing● Neutral
Occidental issued a further $1.5 billion of senior notes, due 2027 and 2047, for general corporate purposes.
4 Apr 2016debt financing● Neutral
The notes offering closed, giving Occidental about $2.7 billion to pay off its 2016 and 2017 debt maturities.
1 Apr 2016material agreement● Neutral
Occidental agreed to sell $2.75 billion of new senior notes (due 2022, 2026 and 2046) to refinance debt maturing in 2016 and 2017.
