(Reuters) – Anadarko Petroleum Corp said on Monday it planned to resume talks with Occidental Petroleum Corp over its $38 billion bid, putting pressure on Chevron Corp to raise its $33 billion offer for the oil and gas producer.
FILE PHOTO: The Occidental Petroleum Corp headquarters is pictured in Los Angeles, California September 16, 2013. REUTERS/Mario Anzuoni
Anadarko said its board had unanimously decided that Occidental’s offer could result in a “superior proposal”, but added that it continued to recommend Chevron’s offer at this point.
Anadarko asked Chevron on Sunday if it wanted to raise its bid and Chevron declined, people familiar with the matter told Reuters on Monday.
Chevron is reluctant to pay more for Anadarko and does not want to be drawn into