Posted Apr 12, 2019, 7:34 PM
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Join Date: Jan 2009
Location: 360, St. Edwards
Posts: 12,383
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Hmm...
Chevron to acquire major Houston-area upstream energy co. for $33B
Quote:
California-based Chevron Corp., which already has thousands of employees in Houston, will acquire Anadarko Petroleum Corp., one of the largest energy companies in Houston, in a stock-and-cash deal worth $33 billion.
Additionally, Chevron plans to divest billions of dollars' worth of assets in the near future and increase its share repurchase program.
The deal, which has a total enterprise value of $50 billion, is expected to close in the second half of 2019. Joe Geagea, executive vice president of technology, products and services for Chevron, and Bob Gwin, who was promoted to president of Anadarko late last year, will lead the integration team, according to an FAQ sheet for Chevron employees.
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The company still owns the site where the third tower is planned, and two catty corner blocks on Milam.
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