© Reuters. The Occidental Petroleum Corp headquarters in Los Angeles

(Reuters) – Anadarko Petroleum Corp (NYSE:) said on Monday it planned to resume talks with Occidental Petroleum Corp (NYSE:) over its $57 billion bid lodged in competition with an earlier bid from Chevron Corp. (NYSE:)

Anadarko said its board had unanimously decided that Occidental’s proposal could result in a “superior proposal”, but added that it continued to recommend Chevron’s offer at this point.

Reuters had earlier reported that Anadarko decided on Sunday to begin negotiations to sell itself to Occidental instead, according to people familiar with the matter.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link