--Anadarko Petroleum Corp. decided on Sunday to start talks to sell itself to Occidental Petroleum Corp., Reuters reports.

-- Anadarko's board of directors decided that Occidental's $38 billion cash-and-stock bid could lead to a better deal than the one it has with Chevron Corp., Reuters says, citing people familiar with the matter.

--Occidental was vying for Anadarko before Chevron clinched its deal, and there is no certainty it will be able to secure its own deal.

 

Full story: https://www.reuters.com/article/us-anadarko-petrol-m-a-occidental-exclus/exclusive-anadarko-to-pursue-deal-talks-with-occidental-petroleum-sources-idUSKCN1S5043

 

Write to Colin Ng at colin.ng@dowjones.com

 

(END) Dow Jones Newswires

April 29, 2019 00:10 ET (04:10 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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