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Strategies & Market Trends : Dividend investing for retirement
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From: rnsmth5/9/2019 9:37:32 AM
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Chevron won't boost offer for Anadarko

May 9, 2019 8:47 AM ET|About: Anadarko Petroleum Corporation (APC)|By: Liz Kiesche, SA News Editor

Upon termination of its merger agreement with Chevron (NYSE:CVX), Anadarko Petroleum (NYSE:APC) will be required to pay Chevron a break-up fee of $1B.

Chevron plans to boost its share repurchase rate by 25% to $5B a year.

CVX rises 3.3% in premarket trading, while APC falls 2.5%.

“Winning in any environment doesn’t mean winning at any cost. Cost and capital discipline always matter, and we will not dilute our returns or erode value for our shareholders for the sake of doing a deal,” said Chevron’s Chairman and CEO Michael Wirth.

Occidental Petroleum (NYSE:OXY) slides 5.5% premarket.
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