(Adds Anadarko agreed to sell itself to Occidental)
By Jennifer Hiller
HOUSTON, May 6 (Reuters) – T. Rowe Price Group Inc said on Monday it intends to vote against the Occidental Petroleum Corp board of directors because the company will not allow shareholders to vote on its bid for Anadarko Petroleum Corp, which T. Rowe Price and other shareholders oppose.
Several other investors also said they might vote against approving Occidental’s board of directors at the annual meeting on Friday. Occidental on Sunday increased the cash component of its $38 billion bid to acquire Anadarko, removing a requirement for Occidental shareholders to approve the deal.
That move led Anadarko on Monday to name Occidental’s $76-a-share offer as superior to that submitted by Chevron Corp ,